The Global Chip Crunch Might Finally Be Easing
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
We have been living through the global semiconductor shortage for two years now. But new data shows the chip crunch -- as it's more deliciously known -- may finally be easing. Not everyone, however, will be cracking open a celebratory bag of Doritos.
According to Goldman Sachs, no fewer than 169 industries have felt the brunt of the global chip shortage. The big one, of course, is personal electronics, which account for 50% of global chip production and explain why it's easier to get a table at Rao's in New York City than a Playstation 5. The White House said in April that the crunch -- caused by a one-two punch of demand for electronics and supply chain snarls, both a result of the pandemic -- shaved 1% from US GDP last year, a $230 billion ding.
Source Fool.com
