Data show global production out of China fell to an all-time low last month, with freight and shipping slowing dramatically as the virus has shuttered factories and container ports. Of the companies surveyed that expect supply chain impacts, most expect the severity of the disruptions will increase after the first quarter of this year.
Quarantined workers and shortages of components have further crimped the availability of goods from China, which is the world's hub for manufacturing.
The virus' impact has not yet been quantified, but the survey from the Institute for Supply Management — the first of its kind — shows just how widespread its impacts have already been for American businesses.
ISM's business contacts...reported a laundry list of disruptions that have already resulted from the outbreak.
“The story the data tells is that companies are faced with a lengthy recovery to normal operations in the wake of the virus outbreak,” ISM CEO Thomas W. Derry said in a statement.