PIX: Hurricane Irene not as disastrous as expected

Kinetic's director of research and development Chuck Watson said the damage by Irene was less than initially feared partly since it hit on a weekend, minimising the damage on businesses.

Watson said had Irene remained strong by the time it reached New York City, damages could have been in the range of USD 30 billion.

Hurricane Irene left at least 21 people dead in eight states, with millions without power, as it thrashed cities from North Carolina to Boston with strong winds and heavy rains over the weekend.

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Even as the damage from hurricane Irene was far less than expected, President Barack Obama said that many Americans are still at risks and it might take weeks for the recovery from devastation caused by the storm throughout the East Coast.

"I want people to understand that this is not over. Response and recovery efforts will be an ongoing operation," Obama told reporters on Sunday.

"I do want to underscore that the impacts of this storm will be felt for some time, and the recovery effort will last for weeks or longer," he said in his appearance at the Rose Garden with Secretary of Homeland Security Janet Napolitano.

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The death toll in the US from Irene has risen to 18.

"Now, dealing with a storm like this requires a three- phase approach: preparation, response and recovery. Some states and communities are still currently responding, while others are beginning to assess their damages and plan for recovery," Napolitano said.

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Tropical Irene slammed New York on Sunday with strong winds and heavy rain after battering the eastern coast of the US.

The eye of the storm -- downgraded from a hurricane, but still blasting up to 65-mile-an-hour (105-kilometer-an-hour) winds and near horizontal rain -- passed over the Big Apple mid-Sunday morning.

An emergency was declared in eight affected states on the eastern coast even as the hurricane monitors said windspeeds had diminished as the storm moved north.

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America's economic nerve centre New York virtually shut down as New Yorkers prepared for the onslaught of violent winds and flooding.

Even though the hurricane weakened to a tropical storm, fear of flooding in many areas still loomed large as river water began inundating some of Manhattan's streets.

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Fallen power lines in Hampton Bays in New York caused by Hurricane Irene.

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A flooded basement after the pass of Hurricane Irene at Hoboken in New Jersey.