The third quarter survey included special questions on whether firms were experiencing disruptions to their supply chains.

Three-quarters of firms reported disruptions, including production delays, shipping delays, reduced availability of materials, and increased materials prices.

Large firms are more likely to be taking action to adjust their supply chains, such as holding more inventory, diversifying or reconfiguring supply chains, moving production closer to the U.S., or changing shipping logistics. Small firms noted less “room to maneuver” and were more likely to report waiting for supply chain issues to resolve themselves.

Less than 10 percent of respondents anticipate these supply chain difficulties will resolve by the end of this year. Most respondents anticipate these issues will not resolve until the second half of 2022 or later.

Among firms with disruptions that have caused lost/delayed sales, their revenue has been reduced by 5 percent, on average.

The third quarter survey included special questions on the availability of workers. Seventy-four percent of survey participants report that their companies are having difficulty filling open positions. Among these firms, 82 percent are increasing starting wages (by an average of 10 percent) in an attempt to fill these vacancies, and 33 percent are implementing or exploring automation to replace workers.