Chip Crunch Likely Not ‘Short-Lived’: Conference Board Economist

Conference Board analysts are “very concerned about the semiconductor chip shortage,” Chief Economist Dana Peterson told a media briefing virtually Wednesday on top global economic trends to watch for in 2022. “This may not be something that is short-lived,” she said. “It takes quite a while to build” a new semiconductor fab, “but even if you could build one overnight, there’s going to be continued demand for high-tech goods,” she said. “We’re thinking there are still going to be supply chain issues” in the semiconductor sector “not only next year, but potentially into further years,” she said. “That’s going to be reflected in transportation costs, also the cost of goods and select services.”