Originally Posted by
wiggin
I think it's a bit nuanced. Most industrial efforts I'm privy to kept going at a reasonable pace (often with a couple week interruption when lockdowns started), with major effects limited to service industries and the like. But I've seen substantial disruption to supply chains for things that should not in principle have been affected (eg certain specialty chemicals or materials, certain consumables, etc). I also know of a lot of hiring freezes (despite real needs for employees) and companies that went under bc of bad timing - hell, pretty much the entire non-emergent surgery market was frozen for half a year, which really screwed up clinical trials for small companies.
I suspect all of these are pretty muted compared to the carnage in hospitality/restaurant/tourism/retail/etc space. I'm not sure how the Dutch are defining 'minor' though, the 8.5% contraction in 2020Q2 has not been recouped, and growth appears to be zero or slightly negative since the Q3 bounce back.