‘It is anything but efficient or normal.’ Surging corporate demand is upending global supply chains. By Brendan Murray, Enda Curran, and Kim Chipman May 16, 2021, 9:01 PM PDT A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously trying […]

Semiconductors will be in short supply for some time to come yet, according to analysts that monitor the industry. Today, chips are in everything from PlayStation 5s and toothbrushes to washing machines and alarm clocks. But there’s not enough to go around — it’s a multifaceted issue that shows no signs of abating, leading some to […]

The ongoing semiconductor chip shortage is now expected to cost the global automotive industry $110 billion in revenue in 2021, according to consulting firm AlixPartners. The forecast is up by 81.5% from an initial forecast of $60.6 billion, which the New York-based firm released in late January when the parts problem started causing automakers to cut production […]

Thursday, May 13, 2021 06:36 AM By Reade Pickert April PPI jumps 0.6% as costs of goods and services advance Labor Department data follow sharp increase in consumer prices (Bloomberg) — Prices paid to U.S. producers rose in April by more than forecast, adding to signs of a growing wave of inflationary pressure that’s extending to […]

Wednesday, May 12, 2021 07:01 AM By Andrew Husby (Economist) and Yelena Shulyatyeva (Economist) (Bloomberg Economics) — A surprise high for April’s CPI dents but does not destroy the transitory inflation thesis. Close to 60% of the month-over-month increase came from five components — used cars, rental cars, lodging, airfares, and food away from home — that will […]

Tuesday, May 11, 2021 01:00 PM By Enda Curran (Bloomberg Businessweek) — Bryant Chan’s factory in Heyuan, in China’s Guangdong province, turns out Nerf guns, LeapPad toy tablets, and other playthings for major U.S. brands, as well as electronics, such as a gadget that can capture data on golf swings. The president of Hong Kong-based Wynnewood Corp., […]

U.S. gasoline prices at the pump jumped 6 cents in the latest week, according to the American Automobile Association (AAA), and could soon be headed for the highest level since 2014 due to a cyber attack that shut down the country’s biggest fuel pipeline system. Average U.S. pump prices increased 6 cents per gallon in […]

As the economy reopens in the wake of the coronavirus crisis, more Americans expect inflation to increase over the next few years. Overall, the expectation is that the inflation rate would be up to 3.4% one year from now — its highest level since September 2013 — and at 3.1% three years from now, according to […]

Colonial Pipeline is working to restore service and has some smaller lateral lines between terminals and delivery points operating again, the company announced Sunday afternoon. The company, the operator of the country’s largest fuel pipeline, temporarily suspended all operations due to a ransomware attack on Friday. Its four mainlines remain offline. Colonial said it’s developing a […]

The April jobs report showed employment gains were mainly in the leisure and hospitality sector. The motion picture and sound recording industry is still almost 40% below pre-pandemic employment. Couriers and messengers lost 77,400 jobs in April, so it is now 14.3% above pre-pandemic employment. The motion picture and sound recording industry continues to have […]