May 4, 2020
A new PEI member survey exploring the effects of the COVID-19 pandemic shows business conditions have continued to deteriorate in the past three weeks.
A new question to gauge member optimism or pessimism also shows a decline since the October 2019 PEI Convention.
The percentage of manufacturers and affiliates that intend to apply for Paycheck Protection Program (PPP) loans or other Coronavirus Aid, Relief and Economic Security (CARES) Act benefits grew over the past three weeks:
- Manufacturers: from 55% to 62%
- Affiliates: from 51% to 58%
Distributors and contractors intending to seek such relief remained almost constant at 71%.
Complete survey findings, including the status of EMV forecourt upgrades and the steps PEI members are taking to boost productivity and protect their employees, may be found here. (Almost all responses were in before Visa’s May 1 decision to delay the October 2020 forecourt liability shift to April 2021.)
Results are based on responses collected April 6-7, from 246 PEI member companies.
Executive Vice President
If you have questions or feedback on PEI Industry Alerts, contact Rick Long at firstname.lastname@example.org.