Economic impact of coronavirus predicted to be worse than death toll

Author
Newstalk ZB,
Publish Date
Mon, 24 Feb 2020, 11:09AM
Coronavirus has killed hundreds but is causing widespread economic harm. (Photo / CNN)

Economic impact of coronavirus predicted to be worse than death toll

Author
Newstalk ZB,
Publish Date
Mon, 24 Feb 2020, 11:09AM

The ongoing spread of coronavirus is set to have a much wider knock-on effect on the global economy.

Italian officials have put 50,000 people in quarantine in northern regions around Venice, as Iran and South Korea struggle to contain major outbreaks.

It comes as our Government is still weighing up whether to extend its Chinese travel ban.

Mark Lister from Craigs Investment Partners told Mike Hosking the economic impact of the virus is spreading much further than the virus itself.

"It's the behavioural change that your seeing from economies, from governments, from consumers, from businesses.

"The wheels have just stopped turning for a lot of parts of China."

He says the outbreak is likely to have a global impact, that could last for some time to come.

An update on the ban on travellers from mainland China is expected later today.

LISTEN ABOVE