Coronavirus impact on Alabama economy too early to tell, officials say

Alabama News

MONTGOMERY, Ala. (WIAT) — As fears over the coronavirus continue to grow around the world, there is concern over how the outbreak could impact Alabama’s economy.

Dr. Min Park, a finance professor at Alabama State University, said the unknowns of the coronavirus are having a negative impact on the stock market.

“It’s not under control that’s why the impact is greater than what we expected,” Park said.

The Alabama Department of Commerce say they are closely monitoring any impact the situation is having on the supply chains of companies across the state.

“Manufacturing plants are shutting down, because they can not produce products, that’s why the market is going down,” Park said.

Alabama Agriculture Commissioner Rick Pate said the state hasn’t seen any direct impacts yet.

Lawmakers are expressing their concerns about the economy and coronavirus.

“I look forward to the day where everyone gets a little comfort level and we move forward, because it’s been devastating on the economy just the thought of this thing,” Sen. Del Marsh, R-Anniston, said.

Alabama Secretary of Commerce Greg Canfield said its too early to gauge the full effects of the coronavirus in Alabama


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