Since the end of 2020 semiconductors used in the automotive sector have been in short supply. Pressure built as the auto industry recovered from the spring lockdowns much faster than expected, especially among hybrid and electric vehicles, which use more chips than petrol or diesel vehicles. This recovery coincided with strong demand from the consumer electronics sector for goods such as the new Playstation 5 and the iPhone 12.
A global shortage of semiconductors for auto parts is currently forcing major automakers to slash vehicle production. This is a reminder that while global supply-chain disruptions have eased considerably since last spring, they have not disappeared.
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Topics: Economic impact, Economic forecasting, Global supply chain, Coronavirus, Industry, GDP