In the North East of the United States and freezing? Matthew Yglesias has, what many will consider, cold words of comfort. Cold days are better than hot days for the economy:

• Temperatures above 15 degrees Celsius reduce America’s economic productivity.
• This effect is only seen on weekdays, where a temperature above 30 degrees Celsius is expected to cost a country $20 per person.
• This is due to the heat’s effect on agriculture and because employees just don’t seem to like working when it’s warm out – even with air conditioning.
• If America could control the weather and optimize it for economic development then income growth could be boosted by 1.7% a year.
• This could explain why countries in the colder north – such as many European ones – are richer than countries in the warmer south.
• This also has implications for what climate change could do to economic growth.

See some charts, read additional details, and find more over here.

Source: Vox