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Moody’s: Food Processing, Packaging Largely Resilient in the Face of COVID-19

A heatmap of the economic impact of the coronavirus on North American industries shows low exposure for food and beverage processing, and packaging, among others.

Moody's Heatmap
A heatmap of the economic impact of the coronavirus on North American industries shows low exposure for food and beverage processing, and packaging, among others.

Business and financial services company Moody’s has released a report in which it provides a heatmap of the level to which North American industries will be economically affected by the coronavirus pandemic. Among those identified as having Low Exposure—in both Moody’s baseline and downside scenarios—are food and beverage, packaging, telecommunications, and waste management, all of which provide essential goods and services. Grocery stores, for example, have remained open even in heavily-restricted containment zones in Italy, China, and the U.S., notes the report.

According to the Moody’s Investors Service report, which was published last week, the spread of the coronavirus will negatively impact around 16% of North American companies under its baseline economic scenario, but under its downside scenario, that figure will jump to about 45%. Moody’s baseline scenario assumes a normalization of economic activity in the second half of 2020, while its downside scenario sees the number of COVID-19 cases surge, and fears that the virus won’t be quickly contained leading to extensive travel restrictions and quarantines, as well as a protracted slump in commodity prices.

Says Moody’s, “Our forecasts remain highly uncertain at this point.”

Listen to these PMMI UnPACKed with PMMI podcasts on packaging suppliers’ operational best practices for dealing with the pandemic:

OEM Covid-19 Response #1: ProMach, Inc.

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