economy

Record-breaking heat takes mounting toll on the U.S. economy

August 13, 2026 / 3:27 PM EDT / CBS News California

Record-breaking heat takes mounting toll on the U.S. economy

TL;DR

  • Canal Park Brewing Company in Minnesota was forced to close for a day and halt patio service for three days due to a heat dome, impacting their summer revenue.
  • Rising temperatures are causing economic damage through reduced business productivity, disrupted infrastructure, power outages, and decreased labor productivity.
  • Regions historically unaccustomed to high temperatures, such as the Northwest, Midwest, and Northeast, are particularly vulnerable to the economic impacts of heat waves.
  • Heat waves can inflict more serious economic damage than other natural disasters because they tend to last longer and affect wider geographic areas.
  • Extreme heat poses significant risks to workers in outdoor occupations like construction, manufacturing, and agriculture, with hundreds of work-related deaths reported annually.
  • Recent heat waves have led to an estimated 0.6 percentage point loss in U.S. gross domestic product.