Confidence among U.S. homebuilders fell in February to a four-month low amidst persistent delays to projects, rising construction costs, and building material production bottlenecks, according to a trade association, indicating a near-term gloomy outlook for the industry. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) declined by one point to 82…
Homebuilder Confidence Falls to 4-Month Low on ‘Severe’ Supply Disruptions: NAHB
February 18, 2022
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Truck Drivers Protest Against Trucker Vaccine Rule at Canada-US Border
A convoy of truck drivers took to the streets on Highway 75, Emerson, Manitoba near the U.S.-Canada border on Jan. 17 following the introduction of new COVID-19 vaccination requirements on truckers put in place by the Canadian and U.S. governments. The Royal Canadian Mounted Police (RCMP) said that a “large number of vehicles” were involved…
Candy Canes Now Running Out of Stock in Shortage-Hit Christmas Season
December 21, 2021
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Candy canes are now joining the list of items facing a shortage this holiday season owing to low peppermint production and overall supply chain disruptions, leaving behind consumers with a weak fruit-flavored taste in the mouth. Congestion at ports and labor shortages in the trucking industry have driven peppermint-flavored candy canes out of shelves with…
Toyota Extends Japan Production Stoppages
December 16, 2021
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Toyota has announced that it will extend production stoppages at some factories in Japan and in its component plants in Southeast Asia after the supply chain crisis, initiated by the CCP virus pandemic, forced delays in its manufacturing divisions. A total of 14,000 vehicles will be removed from production in the latest halts for December,…
Biden Meets Major Retailers to Discuss Supply Chain During Holidays
November 30, 2021
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President Joe Biden met with CEOs of major U.S. retailers in a Cyber Monday roundtable to discuss the supply chain crisis amid rising prices and growing concern that products may not be available during the holiday season. “The business leaders gathered here today represent a broad swath of American shopping,” Biden said in his opening…
Orange County Christmas Tree Farms Face Short Supply
November 26, 2021
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Christmas tree farms in Orange County are preparing for the seasonal rush, as a tree shortage strikes after a year of dry spells. Since opening operations in 1944, Noonan’s Christmas Trees, a tree farm in Costa Mesa, has never experienced a holiday tree shortage until this winter, according to its owner Doug Noonan. “There is…
Small Businesses in CA Hit Hard by National Supply Chain Disruption
November 10, 2021
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As the supply chain disruption continues, about half of all small businesses in the U.S. have been significantly impacted, according to the latest survey released by the National Federation of Independent Business (NFIB). The NFIB Research Center found small businesses in the nation are facing two major challenges—labor shortages and supply chain disruptions—which might continue…
Bank of Canada’s Inflation-Fighting Strategy May Not Be Enough
Commentary The Bank of Canada recently announced it would maintain the overnight rate it charges commercial banks to borrow from the central bank at 0.5 percent, and maintain the rate it offers those banks to keep reserves at the central bank at 0.25 percent. The bank also said it was ending its program of quantitative…
US Supply Constraint Indicator Shows Shortages Near 20-Year High
A new indicator of supply-side constraints developed by Bloomberg Economics indicates that U.S. supply shortages remain close to a 20-year high. The Bloomberg Economics composite measure of supply constraints hit a two-decade high of 2.41 in June, inching down slightly to 2.19 in July and 1.86 in August, the most recent month of available data. Numbers…
More Supply Chain Disruption and Pandemic Flare-Ups Key Risks to Economy in 2022: Poll
Further supply chain disruption, COVID-19 flare-ups, and central bank missteps are the top risks to the world economy in 2022, according to a Reuters poll of over a hundred economists, with a significant number of them predicting inflation is likely to dent the recovery. About one-quarter of 171 economists responding to a question about key…
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