US commerce Sec. Raimondo is speaking and says:
- Challenges happening throughout the supply chain
- Seeing improvement with declining port congestion
Inventories have been increasing of late with gains of over 2% over the last 3 months. With the economy shifting to services from goods, that shift may allow for some of the backlog to work its way out and for the ports to get to a more normal flow. However, at the same time, China's lockdowns could still have a negative impact on the supply chain.
