Affected by the new crown pneumonia epidemic, Philippine President Duterte officially signed an executive order on March 9, declaring that the country has entered a state of a public health emergency. In the Philippines, ten new cases of new coronary pneumonia were confirmed on the day, and a total of 20 cases were confirmed.
Affected by the epidemic, the Philippine stock market plummeted, continuing its most significant weekly decline since October 2008, after the government imposed a blockade on Metro Manila and other cities imposed curfews to curb the outbreak of the coronavirus. As of 9:51 AM, the Philippine Stock Exchange Index fell 7.2% to 5,376.91, the worst performance in Asia, and the index fell 14.4% last week. All 30 constituent stocks of the index fell today.
According to statistics, the Philippines' industrial output value in 2019 was 103.988 billion US dollars, an increase of 8% year-on-year. Among them, the output value of mining, manufacturing, construction, and power energy was the US $ 2.608 billion, the US $ 62.739 billion, US $ 28.551 billion and the US $ 10.59 billion, respectively, accounting for 0.7%, 16.3%, 7% and 2.6% of GDP. According to the data, the construction industry accounts for a relatively high proportion of industrial output value. With the outbreak of the global epidemic and related measures taken in the Philippines, it is expected that the growth of the construction industry in the Philippines will slow down, and the demand for concrete will slow down. It will also be reduced accordingly, and the amount of water reducer will be reduced.
At present, as the demand for water reducers decreases, although the Philippines has adopted specific control measures, it has not restricted industrial production and external trade, so the supply of water reducers is sufficient. As a high-quality water reducer supplier, Luoyang Tongrun has been committed to providing excellent products to the world. The company's foreign trade manager email: tech@cie-china.org.
