COVID-19 Global Industry Analysis
15/05/20
COVID-19 pandemic is having on the general economy and industry. We have received responses from 10 countries including, China, USA, Germany and Japan along with a number of other Asian and European countries.The overriding effect is on the automotive sector and those foundries supplying this industry, with many reporting a reduction of up to 50% since the closing down of the major car makers. The impact has been particularly felt in USA, Japan and Germany, but also in other countries where the foundry industry is embedded in the automotive sector, such as Slovenia, Poland, Turkey and Mexico.
The hardest hit country from our survey seems to be Korea, with a 50% decline in all orders, whilst in Indonesia, the effects are expected to be only a 10% reduction and the recovery to be within three months.
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