Coronavirus Challenges Ahead for NC Manufacturers

Index of NC Leading Economic Indicators

SOURCE: Michael Walden, NCSU

Coronavirus Challenges Ahead for NC Manufacturers

March 23, 2020

Carolina Public Press has posted an article that draws insights from Economist Michael Walden of NC State University about the impact of the current Coronavirus Pandemic on manufacturing in North Carolina. Key take aways from the article:

  • No significant layoffs in manufacturing have been reported across the state
  • Recession is likely upon us and will impact output and employment in manufacturing
  • Even during pandemic, manufacturers may be reluctant to let go of workers because of the technical sophistication of jobs in advanced manufacturing
  • As the coronavirus outbreaks worsens, potentially steep decline in consumer confidence may lead to a downturn in demand
  • Governor Cooper has asked factories to stagger shifts to facilitate social distancing and allow worker to do some tasks at home if possible
  • North Carolina is heading into an economic contraction in very strong shape based on the Index of North Carolina Leading Economic Indicators



Carolina Public Press Article 
Posted March 20, 2020 • Jack Igelman • Carolina Public Press