Special to the Chronicle
Corona virus’s economic impact here so far is minor.
But manufacturers are likely to see problems as reduced production in China limits materials, says economist …
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Special to the Chronicle
Corona virus’s economic impact here so far is minor.
But manufacturers are likely to see problems as reduced production in China limits materials, says economist Joey Von Nessen of the University of South Carolina.
China is a top trading partner, he said. Our manufacturers rely on a global supply chain that runs through China.
Because it takes about 30 days for cargo shipments from China to reach us, the effects are not yet visible.
Some consumer goods also may be affected.
“We expect the outbreak to slow South Carolina’s rate of growth during the first half of 2020,” he said.
A slowdown may be offset by a bounce back after the virus is contained and production levels in China and elsewhere return to normal.
Limited production creates a pent-up demand.
Whether the net impact on economic growth for 2020 is significantly affected depends on how quickly the virus is contained.
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