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Economic expert on the impact the coronavirus has on West Michigan

Economic Expert Paul Isely discusses the impact that the Corona virus has on the manufacturing and travel industries.

GRAND RAPIDS, Mich. — 13 ON YOUR SIDE met with Paul Isely, the Associate Dean of Undergraduate Programs and Economics Professor for the Seidman College of Business at Grand Valley State University.

Isely discussed how the manufacturing and travel industries were impacted the most by the coronavirus.  

The biggest impact on manufacturing is the possibility that companies will run out of raw materials. Isely explained that companies stockpile extra materials to last anywhere from 60 to 90 days. Those with less extra materials will be impacted first.

While travel is mostly impacted on the coasts, West Michigan faces some impacts as well.

Due to reduced and banned travel, companies are facing major losses.

As a result, travel tickets will become cheaper, especially for those looking to travel towards the coasts.

RELATED: Bonds are up, stocks fall amid fears virus will hurt economies

In the next couple of weeks, we will be approaching the 60 day mark since coronavirus began spreading.

If the coronavirus continues to spread the day-to-day impact may consist of delayed deliveries and the possibility of empty store shelves.

Other Coronavirus stories on 13 ON YOUR SIDE:

Can wearing a face mask protect you from the new coronavirus (COVID-19)?

China, South Korea report more virus cases; 4th Diamond Princess passenger dies

CDC warns spread of coronavirus in US appears inevitable

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