(AmericanProsperity.com) – In February, manufacturing grew slower than expected thanks to the coronavirus outbreak in China and around the world. The slowdown has put a dent in global economic growth and corporate profits.
A key gauge of U.S. manufacturing retreated to near-stagnation in February https://t.co/FICjnh7jpK
— Bloomberg Markets (@markets) March 2, 2020
Activity slowed as supply chain disruptions and lower exports sparked concerns over a potential recession. As of March 2, 2020, the coronavirus has infected over 90,000 people and just over 3,000 have died as a result.
In February, China shut down plants and also closed roads, railways, and airports to curb the spread of the virus.
In some good news, some regions in the United States performed better than expected. The Chicago area saw a six-month high in manufacturing and factory activity increased in Texas.
~Here’s to Your Prosperity!
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