Credit Suisse Estimates Japan Economic Losses at $171 to $183 Billion
Credit Suisse chief economist Hiromichi Shirakawa said economic losses from the quake-hit region of northeastern Japan would likely be “slightly less than 40 percent” of the 40 trillion yen in total economic losses seen from the Kobe earthquake in 1995.
Shirakawa said losses from the quake on Friday would likely be smaller due to the lower number of office buildings, commercial facilities and highways in the affected regions.
He also said there had been no reports of big collapses of major manufacturing facilities.
($1 = 81.915 Japanese Yen) (Reporting by Mariko Katsumura; Editing by Joseph Radford)