Production in US record decreased

The global chip deficit and the consequences of Hurricane “Ida” hit the production in the United States. In September, it decreased by 0.7 percent – record for seven months, reports Reuters.

The strongest decline was in the automotive industry. The production of cars decreased by 7.2 percent in September after falling by 3.2 percent in August against the background of chip deficiency. In addition, the lack of workers and congestion in ports that detained supply will be put pressure on production volumes in the coming months and quarters.

Excluding car production in the United States fell by 0.3 percent in September. The release of consumer goods decreased by 1.9 percent, and the goods of short-term use are one percent. The volume of industry fell by 1.3 percent, and mineral mining – by 2.3 percent.

According to the estimates of the Federal Reserve System (Fed), the growth of US GDP, which has a large role in which the sphere of services plays, in the second quarter slowed down to 1.2 percent year in annual terms. In the second quarter, the economy grew by 6.7 percent. According to the Fed, in September there was a steady increase in inflation, mainly due to the rise in price of cars against the background of their deficit.

Natural cataclysms that happened in the United States for 2021, including Hurricane “Ida”, forced the US President Joe Bayden to take measures to reduce risks for the economy. The government has published a report on the protection of financial, insurance and housing markets, as well as savings of citizens from threats related to climate change. In addition, the United States intends to solve the global shortage of chips. The White House discussed ways to overcome supply crisis with companies, including the largest automakers General Motors, Ford Motor and Stellantis. Ihs Markit reported that the world car market in 2021 had already lost more than seven million cars. It is expected that the chip deficit will last until 2023.

/Media reports.