WASHINGTON—U.S. homebuilding unexpectedly fell in September and permits dropped to a one-year low amid acute shortages of raw materials and labor, strengthening expectations that economic growth slowed sharply in the third quarter. The report from the Commerce Department on Tuesday also showed housing completions hitting a 13-month low. It followed on the heels of news…
Chip Shortages, Hurricane Ida Depress US Manufacturing Production
October 18, 2021
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WASHINGTON—Production at U.S. factories fell by the most in seven months in September as an ongoing global shortage of semiconductors depressed motor vehicle output, further evidence that supply constraints were hampering economic growth. Manufacturing production last month was also depressed by the lingering effects of Hurricane Ida, which also severely disrupted output at mines. The…
Emergency Food Suppliers Ready to Meet ‘Huge Spike’ in Demand
Like scattered icebergs bearing down on the Titanic is how My Patriot Supply saw the looming global supply chain disruptions, said its president Keith Bansemer. Rather than wait for the eventual collision and proverbial sinking the company, in Salt Lake City, Utah, chose a year ago to be prepared for the material shortages that are hitting now. Bansemer said while…
US Retail Sales Reveal Surprise Increase in September Despite Ongoing Supply Shortages
American retail sales rose unexpectedly in September amid ongoing supply chain shortages, raising concerns as the nation nears the holiday shopping season. The U.S Census Bureau announced Friday a 0.7 percent increase from August. The July–August increase was also revised up to 0.9 percent instead of the 0.7 percent earlier reported (pdf). The increase was…
Labour Leader Calls for More Urgency to Plug UK Haulage Driver Shortages
Labour Party leader Sir Keir Starmer has repeated his call for greater urgency from the government to tackle haulage driver shortages, ahead of a visit to an HGV training center. He dismissed as a “sticking plaster” a recent government announcement that it will increase places on a fast-track “skills boot camp” by 2,000 to 5,000…
Labor and Supply Problems Dent Growth in Construction Sector in the UK
Subcontractors in the construction sector have been charging more, while supply shortages are pushing up the costs of materials for builders, an influential survey has found. The UK’s construction industry has seen growth slow, with output rising, but to the smallest extent in eight months. The IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) gave…
German Services Lose Momentum as Catch-Up Effects Wane, Supply Shortages Spill Over: PMI
BERLIN—Germany’s services sector activity continued to grow strongly in September, but the recovery from the COVID-19 pandemic lost momentum as catch-up effects are waning and more companies are affected by supply bottlenecks, a survey showed on Tuesday. IHS Markit’s final Purchasing Managers’ Index (PMI) for the services sector fell to 56.2 from 60.8 in August,…
US Manufacturing Expands Further in September; Shortages, Prices Rising: ISM
WASHINGTON—U.S. manufacturing activity picked up further in September, but factories experienced longer delays getting raw materials delivered and paid higher prices for inputs. The Institute for Supply Management (ISM) said on Friday its index of national factory activity increased to a reading of 61.1 last month from 59.9 in August. A reading above 50 indicates…
What Is Behind China’s Power Crunch?
BEIJING—China is in the grip of a power crunch as coal supply shortages combined with strong power demand from manufacturers, industry, and households push coal prices to record highs and trigger widespread curbs on usage. China’s heavily controlled power pricing system prevents its generators from passing on their soaring coal costs to consumers, leaving them…
Micron Sees Dip in Chip Demand as PC Makers Face Parts Shortages
Micron Technology Inc., forecast current-quarter revenue below analysts’ expectations and warned that shipments for its memory chips were set to dip in the near term as its customers making personal computers face shortages of other parts. Shares of the Apple Inc-supplier, which also said it was experiencing shortages within its own supply chain for some…
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