The other factor is El Niño, a periodic climate cycle in which sea surface temperatures over the eastern Pacific become warmer than usual. The effects from changes in Arctic Oscillations generally last only a few weeks, but the balmy weather in the Northeast could continue because of the El Niño effect, experts say.
We’ll leave the discussion of whether the weather anomalies of the past three years are due to global warming, or “climate change”, as it is now known, to others, but we will ask: if the past two years saw GDP boosted by 1.5% on average in the winter as a result of abnormally cold weather, does that mean that the US economy, which according to the Atlanta Fed was “growing” at 1.3% net of the record heat, is already in a recession?
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