McKinsey consultants examined the causes of the shortage, together with a drop in client demand for automobiles on the onset of the pandemic, which prompted semiconductor suppliers to shift production to different products. Automakers and suppliers ought to contemplate important strategic modifications to go off a repeat . Just with the know-how that is at present available—no unheard-of breakthrough required—it’s potential to achieve 3 to four p.c global economic progress every year for a decade. Quint is a multiplatform, Indian enterprise and financial news firm. U.S. import costs increased lower than expected in July, an indication that inflation pressures might have peaked as provide chain bottlenecks which have impacted the…