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Climate event El Niño could hit the economy from food prices to clothing sales this year | CNN Business

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The phenomenon not only has an impact on weather conditions, but studies also show it can cause ripple effects throughout the global economy

Earlier this month, scientists at the US National Oceanic and Atmospheric Administration confirmed that the climate event known as El Niño has officially emerged for the first time in more than four years, and it’s expected to be strong this time around. The phenomenon generally has a wide-ranging impact on weather conditions for 9-12 months.

“Although no retailer ever wants to blame the weather because it comes off as an excuse, weather is absolutely critical for most retail, particularly apparel and seasonal goods,” he said. “Not only must the retailers or brands forecast what consumers will want, they also need to predict what nature is going to throw at them.

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