“We need lower consumer demand to give supply chains time to catch up… recover efficiency… and break this vicious circle”: CEO of Maersk’s APM Terminals, one of the largest container port operators.
Wolf Street: Today’s release of the Fed’s “Beige Book“ – an informal narrative of the economy as told by small and large companies in the 12 Federal Reserve districts – listed “shortage” 77 times, up from 19 times in January.
“‘They will throw their silver into the streets,
And their gold will be like refuse;
Their silver and their gold will not be able to deliver them
In the day of the wrath of the Lord …” Ez. 7:19
Shortages of nearly everything, with labor-related shortages being the most prominent. These shortages “restrained” growth, and companies were “unable to meet demand” because of these shortages. Here are some standouts:
- Extensive,” “widespread,” “intense,” “acute,” “persistent,” “broad,” and “ongoing” “labor shortages.”
- “Worker shortages”
- “Workforce shortages”
- “Shortages of drivers”
- “Truck driver shortage”
- “Chassis” shortage
- “Ongoing microchip shortage”
- “Pervasive resource shortages”
- “Material shortages”
- “Inventory shortages” from retailers to housing.
- “Supply chain shortages”
- “Supply shortages”
- “Shortages of parts”
- “Shortages of inputs and labor”
- “Increasingly severe shortage of auto inventories”
- “Shortages of parts for farm equipment”
- “Restaurants reported severe supply and staffing shortages”
- “Nursing shortages”
- “Raw material shortages”
- “Shortages of labor and other raw materials” that delayed construction
- “Persistent materials shortages”
- “Shortages and higher costs for both labor and non-labor inputs”
- “Retailers noted shortages of and increased lead times for merchandise, particularly on foreign-made goods”
