Weaker Gustav lowers damage estimate

(CNN) - The estimate of damage Hurricane Gustav could cause was sharply reduced Monday morning as the storm's strength lagged behind predictions.Property damage from Gustav could total $8 billion, just 25 percent of Sunday's estimate, according to a federally supported computer projection issued Monday morning.

Sunday's estimate of $32.8 billion in property damage was based on winds of 126 mph.

Gustav's top sustained winds were 115 mph as it neared a landfall on the Louisiana coast, west of New Orleans.