(CNN)Computer chip shortages. Epic port congestion. And a serious lack of truck drivers. The world's delicate supply chains are under extreme stress.
The supply chain nightmare is jacking up prices for consumers and slowing the global economic recovery. Unfortunately, Moody's Analytics warns supply chain disruptions "will get worse before they get better."
"As the global economic recovery continues to gather steam, what is increasingly apparent is how it will be stymied by supply-chain disruptions that are now showing up at every corner," Moody's wrote in a Monday report.
Indeed, the IMF downgraded its 2021 US growth forecast on Tuesday by one percentage point, the most for any G7 economy. The IMF cited supply chain disruptions and weakening consumption ? which itself has been partially driven by supply chain bottlenecks such as a lack of new cars amid the computer chip shortage.
