The international chip shortage has sent the price of vehicles soaring and affected the medical industry as well. With no end in sight, we need divine strategy from the Lord.

From Independent. The Biden administration has warned that there could be extreme risks to the United States’ economy due to the semiconductor shortage.

View Comments (1)

The chip shortage has significantly affected American manufacturing since the start of the pandemic. At the start of this year it was reported that some companies were down to less than five days of inventory — a sharp drop from 40 days in 2019….

Now, White House National Economic Council Director Brian Deese has suggested that “the lack of available semiconductors probably took a full percentage point off of GDP in 2021….”

Companies such as Intel and Samsung have said they would start building chip plants in the United States….

“A significant interruption to our supply of semiconductors could cause historic damage to the US economy – damage far greater than the impact of chips shortages on the American auto industry right now – and would undercut our technological competitiveness and military advantages over adversaries globally,” the White House said, as reported by Reuters….

How are you praying for our economy? Share this article to encourage others to pray.

(Excerpt from Independent. Photo Credit: Brian Kostiuk on Unsplash)