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Supply-chain Grinch eyes the holidays

Mark White by Mark White
October 30, 2021
in Supply Chain
0


FILE PHOTO: Shoppers carry bags of purchased merchandise at the King of Prussia Mall, United States’ largest retail shopping space, in King of Prussia, Pennsylvania, U.S., December 8, 2018.

WASHINGTON, Oct 29 (Reuters Breakingviews) – U.S. consumers are still an economic bright spot, despite a slowdown in spending. Instead, it’s supply-chain snarls that will bring down the holiday cheer. They could dampen spirits into the next year too.

The Delta variant surge in September dented what had been robust shopping. Consumer spending rose 0.6% from August, compared to a 1% bump in the previous one-month period, the Commerce Department said on Friday. But consumers are expected to come back for the holidays as Covid-19 cases ease. The National Retail Federation on Wednesday projected record spending in the next two months, with a bump of up to 11% compared to last year.

Supply-chain problems will last longer. Such issues, including chip shortages , cost Apple (AAPL.O) $6 billion in sales in its last fiscal quarter and it may be worse during the holidays, Chief Executive Tim Cook read more told Reuters on Thursday. Amazon.com (AMZN.O) expects labor, inflation and supply-chain constraints to cost $4 billion this quarter.

Higher prices so far haven’t turned off customers, but hard-to-find iPhones and other goods could hike costs further, which could eventually take a toll on consumer confidence. With hiccups continuing in 2022, consumers and companies will feel the pain beyond the holidays. (By Gina Chon)

On Twitter http://twitter.com/breakingviews

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Editing by Jennifer Saba and Sharon Lam

Reuters Breakingviews is the world’s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.





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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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