May 4, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Manufacturing activity in the U.S. is at its lowest level since July 2020, according to a survey by the Institute for Supply Management (ISM). The survey respondents, along with major U.S. companies, are seeing red flags amid ongoing supply-chain issues and the most recent wave of COVID-19 lockdowns in China.

In first-quarter earnings-related conference calls, major U.S. companies sounded the alarm over ongoing supply-chain constraints and the latest COVID lockdowns in China's largest industrial hub, Shanghai. These included Apple Incorporated (NASDAQ:AAPL) (Cupertino, California), Intel Corporation (NASDAQ:INTC) (Santa Clara, California) and Texas Instruments Incorporated (NASDAQ:TXN) (TI) (Dallas, Texas).