Supply chain bottlenecks hit manufacturers as recovery drives demand – business live


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7.36am BST

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US ISM Manufacturing declined to 60.7 in Apr/21 from 64.7 in Mar.
Decline is attributable mainly to supply constraints, as indicated by sharp increase in price paid and a decline in inventory levels and suppliers’ delivery.

[Purchasing managers] “reported that their companies and suppliers continue to struggle to meet increasing rates of demand due to coronavirus impacts limiting availability of parts and material.”

“What really stands out in the April report is just how broad the squeeze in supply of key commodities and intermediate inputs has become, with respondents’ comments suggesting supply shortages are affecting almost every industry.

That is reflected in the supplier deliveries time balance which, though it fell to 75.0 last month from 76.6, remains unusually elevated.”

The Baltic Dry Index, once widely seen as a proxy for global growth and #commodity demand, has risen more than 650% from its #Covid low to the highest level in almost 11 years!

Commodities prices jumped to new highs amid oil-demand optimism. #OOTT #METL

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