Firms report easing coronavirus supply chain disruptions in South China – Survey
|According to a survey conducted by the American Chamber of Commerce in South China, a majority of the companies said that the supply chain disruptions due to the coronavirus pandemic-imposed lockdowns have eased, the South China Morning Post (SCMP) reports.
Key findings
“More than 78% of the 172 companies said they had no supply chain difficulties, an increase of 46% since March. Of the 22% of respondents that were still experiencing supply chain disruptions.”
“Some 46% said it was because of problems in transport and logistics, according to the survey of US, Chinese and other multinational firms conducted between August 28 and September 8.”
“Fully 46% of companies reported a drop in revenue in their Chinese operations in the first half of 2020. “
Market reaction
Despite the optimism from the Chinese companies, the sentiment remains tepid amid growing virus cases in the Old Continent.
S&P 500 futures shed 0.20% while the Asian equities reported moderate losses, tracking the sell-off in Wall Street overnight.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.