Despite reports of strong demand, supply side problems helped push the current conditions component to the first sub-50 reading since May 2020, when the electroindustry was just beginning to regain its footing after the pandemic’s onset. The nearly 12 point negative shift from 57.7 last month to 46.2 in October was driven largely by an increase in the share of responses indicating worse conditions during this survey period. The majority of respondents continued to note unchanged conditions, but that stable platform eroded slightly this month. The prevailing sentiment was probably best expressed by the comment that, “supplies for products are becoming more difficult to obtain as the year goes on.”  

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