Foxconn factories are returning to work faster than expected

Posted on Friday, March 13 2020 @ 12:37 CET by Thomas De Maesschalck
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Foxconn founder Terry Gou claims that work at his factories is resuming faster than expected. Production was hit hard by the coronavirus outbreak but Gou told reporters yesterday that supplies to Foxconn factories in China and Vietnam has returned to normal.

While the virus currently seems under control in China, other parts of the world are just starting to feel the brunt. Production in China is normalizing again, but there are worries about consumer demand:
Gou, however, warned about weak consumer demand as a result of the coronavirus epidemic which the World Health Organization has now declared a pandemic, and said the U.S. market was of particular concern.

“In the United States, what we are worried about is the market. If production was resumed quickly but consumers stop spending...that would be key to the economic recovery,” he said.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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