We're pretty sure most folks would like to forget just how hot this summer was. And we know the summer of 1980 was technically hotter, but 2023 felt brutal, too!
This summer's heat was so hot in fact, researchers from the Federal Reserve Bank of Dallas say it cost the Texas economy $24 billion!
The summer heat stressed the state's energy grid to its core and since nobody wanted to go outside, consumers spent less on goods. Researchers wrote in the report, "Anecdotally, everyday behavior in Texas changed during the summer of 2023 as the heat bore down."
The research also found that the effects on Texas' economy were "twice as pronounced" as the change in the rest of the U.S., as Texas summers are "generally hotter in comparison to the rest of the country."
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