Climate Change Threatens Majority of US Manufacturing Sector by 2020
The study looked at how hot weather impacts the money earned in different parts of the US economy. They found that when temperatures go above a certain level, earnings can drop. This affects sectors like agriculture, manufacturing, construction, retail, and finance severely. For each day hotter than 25°C, average earnings growth decreased by 0.02%. The researchers even projected that, due to climate change, the US manufacturing sector may see reduced earnings growth by 2020–2024, with an expected average decrease of around 0.3% annually from 2020 to 2049.