GRAND RAPIDS, Mich. (WOOD) — After two cases of coronavirus were confirmed in Michigan Tuesday, organizations started calling off large events in an effort to eliminate opportunities for it to spread.
“Now that it’s in the United States, we’re starting to see people change their behavior, not go to events, and that’s starting to reduce the amount of spending that’s happening here in West Michigan,” Dr. Paul Isely, an associate dean in Grand Valley State University’s Seidman College of Business, said.
In fact, the state on Wednesday advised groups to consider canceling any gathering of 100 people or more.
“It’s going to be missed going out to eat, it’s going to be missed tickets sold, and it’s going to be missed sales of things like gasoline that would happen here in the Grand Rapids area as people came to those events,” Isely said. “The size of that is going to depend on how people behave and how long this lasts.”
He noted that the economic impact on the U.S. started when manufacturing supply chains in China were negatively affected by the origin of the outbreak there. The uncertainty in the market has had Wall Street performing poorly in recent days and weeks.