Search ForexCrunch

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.