Consumer

The executive director of the Port of Long Beach, the largest container port complex in the United States, warned of an industry “crisis” over supply chain disruptions.

General Motors has issued a recall of all its Chevrolet Bolt electric vehicles across the globe after a number of the batteries installed in the cars caught fire.

Furniture sales have surged during the pandemic, leading to major backlogs at manufacturing facilities. This means consumers around the nation should expect delays on their orders. A manufacturer in Conover, North Carolina says their shipping times used to be 8 weeks, but now it's taking them 22 weeks to send orders to customers. Industry experts say supply chain shortages are also contributing to the backlog, creating the perfect storm in recent months.

Consumer confidence increased for a fifth straight month in June and returned to levels last seen before the onset of the COVID-19 pandemic.

Companies across the country are considering hiking prices to offset the surging costs of things like raw materials, energy and transportation.

The National Retail Federation on Thursday revised its annual sales forecast for 2021, now anticipating that retail sales will increase between 10.5% and 13.5% to more than $4.44 trillion this year.

General Mills has thrived amid the coronavirus pandemic with people worldwide eating more at home over the past year, but the company is downsizing its workforce as part of a push to reshape itself for the post-pandemic future, the Star Tribune reports.