Makers of Diapers and Baby Formula Brace for Lower Sales as Pandemic Leads To Decline in Births
Call it the Covid baby bust.
Experts are forecasting declining birth rates this year as a result of the coronavirus pandemic, putting pressure on the consumer giants that manufacture infant formula, baby food and diapers, The Wall Street Journal reported Monday.
Barclays is predicting that births in China will fall 8% this year, while the Brookings Institute is estimating that U.S. births could shrink by as much as half a million, citing the impact of an economic recession, according to the Journal. This comes as birthrates in the U.S. and China are already at their lowest levels on record.