World Economy Is Experiencing A Slowdown

The world economy is experiencing a slowdown.

It's not only the stock markets that have been hit. World consumption has also plummeted. Large New Year's events were canceled; tourist attractions, cinemas, etc… were affected since.

The travel industry has also been badly affected. Several countries issued travel warnings to postpone travel abroad and prohibit domestic travel groups. Some factories, offices, and stores have been temporarily shuttered. Additionally, oil refineries also cut production due to shrinking fuel demand. Similarities on economic activity — purchases from factories are likely to be postponed or rather canceled altogether.

Labour shortage and supply chain delays are causing a toll on manufacturing sectors. Travel restrictions and quarantine enforcement were the roots of many factory temporary closures. Many factories are struggling to stick to original delivery schedules; average delivery times for goods have increased.

ASEAN countries such as Vietnam, Thailand, and Indonesia are some of the countries that are affected. Due to longer delivery times, companies are facing disruptions to their businesses.

Despite the uncertainty and unpredictability worldwide, Hochiki is doing its best to stay committed to delivering our products on time. With our manufacturing hubs and products originated from the US, UK, and Japan, we strive to minimize disruptions to your businesses.

Hochiki understands the importance of meeting deadlines on time, we will monitor our production and shipment schedules closely to ensure that we will meet your project schedules.

Contact us at sales@hochikiasiapacific.com to find out more about product availability and shipping matters.