- New lockdowns in the Chinese manufacturing hub of Shenzhen presage more supply disruptions for companies and higher prices for consumers.
- As items from electronics to cars become ever more expensive or unavailable, households will revert to pre-pandemic habits and focus their non-essential spending on services like restaurants and travel.
- Consumer prices rose 7.9% in the 12 months to February, according to the Labor Department. Meanwhile, services excluding those related to energy rose by a less eye-popping 4.4%.
For further details see:
U.S. Services Have Better China Lockdown Defenses