team was talking to me this morning about that buildup, and they thought they saw, again we re going to have to see another few quarters to make sure that this is in train, they thought they saw some improvements there in the supply chain. basically you don t get an inventory buildup adding almost 5 percentage points to gdp if your supply chains are as jammed up as they have been. and we have a bunch of data from our supply chain team showing that in fact things have been moving through the ports a lot more quickly. dwell time, if i may get particularly granular, the amount of time that containers are spending in ports, it s down 60% over the past few months. goods are moving from ship to shelf. we saw that in the holiday season, and that inventory is actually a potentially positive indicator of some unsnarling of those chains. all right. jared, i appreciate your time. thank you so much. thank you. and next, a former top white house aide testifies before the
MIL-OSI Global: Fact Sheet: Biden- Harris Administration Announces New Initiative to Improve Supply Chain Data Flow
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commission to make sure there is no price gouging out there and the release of oil from strategic reserves which as i stress appears to be with other factors, global price, helping to push down the price of oil quite significantly. down about $10 a barrel. that s going to show up at the pump. it is already starting to with energy prices down about 7 cents. i have never been part of a white house team that is doing more to help reduce things like dwell time, the amount of time containers spend in ports. the orders from this president to his economic team is we will relentlessly push until these supply chain snarl-ups are eased. bill: the headline from the hill. democrats don t think manchin wants biden agenda vote until christmas. it doesn t like like a vote will happen in 2021. would you agree? i don t follow the exact timing of those votes as an economic analyst. you would have to talk to our
containers is easing. 0ne majorfirm, maersk, has diverted its largest ships to ports in belgium and the netherlands. the port blamed the shortage of haulage drivers, brexit border changes, and the pandemic. graham satchell reports. a logjam at felixstowe, the uk s biggest commercial port. the situation is so serious some larger ships are being re routed to other ports in europe. morning, mate. how are you doing? morning. i m 0k. you? adam searle runs a haulage firm with 85 lorries. instead of taking empty containers back to felixstowe as normal, he s had to take them to liverpool as there is no space. there is a massive backlog of deliveries created by the driver shortage, brexit and a number of other things. it has just all created a perfect storm. in normal circumstances it takes two or three days for a container to be collected and driven away once it has been unloaded to the dock. the so called dwell time is now closer to ten days. the worry now is what impact
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