The wildfires in Los Angeles, devastating 40,000 acres, have led to an alarming estimated economic loss of up to $275 billion, marking one of the costliest disasters in US history.
Goldman Sachs predicts a decline of 0.2 percentage points in Q1 GDP growth due to the wildfires, alongside a manageable job loss range of 15,000 to 25,000, indicating limited direct economic impact.
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