White House estimate of losses to hacks emphasizes private-sector leadership on cybersecurity

White House economic advisors have attached a dollar amount to damages due to cybersecurity vulnerabilities, but they are not recommending regulations for addressing the issue, saying the matter is generally best dealt with by the private sector.

In a report released Friday, the White House Council of Economic Advisers estimated that malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016.

The report cited rolling costs of cyber attacks due to spillover effects to...