Companies are beginning to see the impact that the outbreak of the coronavirus in China is having on their businesses. Many firms are now starting to predict that it will negatively impact their revenues. In fact, according to a survey conducted by The American Chamber of Commerce in Shanghai, 87% of US businesses in China expect the coronavirus to impact their 2020 revenues – with 24% predicting a fall in revenues of 16% or more.
The results of the survey, which was conducted in the first week of February, indicate that disruption and concern about the impact that the coronavirus is having on supply chains is spreading quickly. This comes after a survey conducted by the Massachusetts Institute of Technology Center for Transportation and Logistics in the last week of January which reported that only a few respondents anticipated major disruption from the virus in the next quarter.