Grocery shoppers may be experiencing a case of déjà vu as they find baking supplies, snacks, and beverages once again in short supply. The latest wave of Covid cases has caused a jump in employees calling in sick, schools closing, and families revisiting early pandemic habits like baking. With semiconductors availability still low, deliveries of everything from automobiles to game consoles are continue to be delayed. Two years into the pandemic and supply constraints remain a key theme for business and the market. Nevertheless, recent data from Bloomberg economics suggests that while supply constraints remain elevated compared to historical norms, conditions did improve in the last two months of 2021. With businesses becoming more adept at managing disruption and with planned capacity increases eventually coming online, there is reason for optimism even as we weather the current winter infection wave.
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