PH metal firms seen reeling from China factory shutdowns
Among domestic industries, manufacturers of fabricated metals would be most badly hit by supply chain disruptions being caused by a shutdown among Chinese factories due to the COVID-19 outbreak, London-based Capital Economics said.
“Factory shutdowns in China are starting to have significant knock-on effects on the rest of the region as companies struggle to source intermediate goods. The garment and electronics sectors are likely to experience the worst of the disruption, while Vietnam and Malaysia are set to be the hardest-hit countries,” Capital Economics senior Asia economist Gareth Leather said in a Feb. 13 report titled “How big will the disruption be to Asian supply chains?”
“Following extended shutdowns over the Chinese New Year, factories across China were due to reopen this week. But with some companies being ordered to remain shut for at least another week and factories reportedly struggling to find enough workers, the disruption to China’s industrial sector is likely to drag on,” Capital Economics added.
For more information about the novel coronavirus click here.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.