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Global shortage of chips will continue until 2022. PHOTO/ IST
LONDON – Global rating agency Fitch Ratings confirms shortage crisis chip global economy could continue into 2022 given the cost of adding new semiconductor capacity.
Fitch said the chip shortage had forced manufacturers, including auto and heavy truck makers, to reduce production. The situation, Fitch said, has affected first- and second-tier suppliers. READ ALSO – Deadline November 30, BNI: Immediately Change to Chip Debit Card
“Certain supply chain challenges will take longer to resolve, such as increasing production of semiconductor chips and additional investments to expand delivery capacity,” Fitch wrote on its official website, Saturday (10/23/2021).
In addition, delivery delays and widespread shortages of raw materials and components, such as semiconductor chips, slowing down the economic recovery due to the pandemic.
Fitch said it expects supply chain issues to likely be resolved by the beginning of the second half of 2022.
(wbs)
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