The Chinese government is reporting high unemployment, especially among migrant workers. Among the estimated 130 million workers that headed to cities after Chinese New Year this February, the government estimates 20 million returned home after not being able to find employment.
There are also all kinds of news stories about Chinese factory closings. However, nearly all of our OPSA factory partners report good business. They also appear busy, although not as busy as last year, when our employees are in their factories. Pricing has declined a bit, but not to the extent we would expect given the soft demand and steep falls in raw material prices.
It's a bit strange. With the recent bounce-back in the US stock market, I wonder if things are either not as bad as reported/feared, or if things are moving up from bottom. It will be an interesting Spring.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment