American companies in China said they are likely to see a direct impact of the coronavirus in their 2020 revenues figures, the American Chamber of Commerce (AmCham) in Shanghai announced on Friday. In a survey conducted among 127 companies, 87% of the respondents said their revenues will be impacted while as many as 24% stated that they now foresee a drop of 16% or more in revenues as a result of the outbreak.
Additionally, almost one third stated corporate headquarters aren’t taking potential economic consequences of the virus enough into account.
Furthermore, 16% of the poll participants stated that they expect Chinese gross domestic product (GDP) to fall by 2% or more because of the disease. Earlier, reports said companies across China are extending work from home or holiday periods. Meanwhile, work at a number of companies, including Fiat Chrysler, Foxconn, Hyundai, Kia and Apple, has been impacted by the coronavirus.