Coronavirus spread threatens US economy, commerce

McClatchy files Chapter 11 bankruptcy after pension woes


The coronavirus casts a widening shadow across the U.S. economy.

The outbreak in China dampens visits by Chinese tourists, raises the prospect of shortages and price increases for iPhones and other products and disrupts deliveries of parts for carmakers.

“It’s consequential,” Diane Swonk, chief economist of Grant Thornton, says of shipment delays and product shortages. “It’s going to happen.”

The effects on the economy and commerce have been modest, but the toll is likely to grow if factory shutdowns in China persist and the outbreak continues to spread rapidly. Chinese authorities say the number of new cases has dropped, but global health officials are cautious, noting thousands of infections could go undetected.

The number of coronavirus cases worldwide has surged to nearly 75,300, mostly in China, and the death toll has topped 2,000. There have been 29 cases in the USA.


Source link

Categorized as Business

By Bernice Caldwell

Bernice is one of the finest authors Industry News Today portal has until now. Bernice's linguistic and well-written technique is one of the plus points that have the readers glued to her articles. Bernice currently heads the Healthcare and Services domain as her knowledge on the medical topics is immense. She has just joined the Industry News Today portal 6 Months back but the love for writing can be very well seen. She may be short on experience but it has definitely not stopped her from presenting some of the finest articles. Bernice is currently a very well-known personality on the portal to have shown her skillful writing in such a limited time span.

Leave a comment

Your email address will not be published. Required fields are marked *