The economic impact of the Swine Flu
Filed under: Business, Global Economy, World Events
As the number of confirmed swine flu cases increases, there is a lot of panic going on. Some people have been buying drugs overseas and importing them for their own personal stockpiles. Others have resorted to not going out at all. The recent drop in oil prices seems to have helped the economy and certain economic indicators have suggested that the economy is starting to recover. Since the swine flu started appearing and governments have closed schools and sent many notices to the people, one of the fears I see is a decrease in consumer spending and once again a slowdown in the economy. One of the hardest areas hit by the flu was Mexico. Since the flu hit, schools, businesses and other social venues have closed down for anywhere between a few days to several months. Small businesses that depend on a steady stream of customers and income may be looking to close. Certain imported goods will also see an increase in price due to a drop in supply and the scarcity of the good.
The swine flu will definitely impact schools and will have a snowball effect on the economy. The question now remains, how much will it impact and how quickly can regain lost ground.
Posted on May 1st, 2009 by Andy Yiu
1 Comment
May 1st, 2009 at 11:45 pm
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