From port congestion and price spikes to widespread shortages, stress in US supply chains is intensifying and could slow the economy in the coming months, Moody's Analytics warns.
"Supply-chain headaches show no sign of subsiding just yet," Moody's economists led by Matt Colyar wrote in a Tuesday report.
"There are going to be disruptions and shocks to the system as long as the pandemic continues," Buttigieg told CNN's Jim Sciutto.To measure the logistical strains impacting the economy, Moody's recently created a US supply chain stress index that is made up of various metrics for production, inventory and transportation. That index climbed to 135.9 in August, compared with pre-pandemic levels of about 100.
Indeed, there is a risk that the US economy barely grew at all in the third quarter, which ended in September.
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