The Chief Executive of Intel is predicting the shortage of semiconductors that’s hurting a range of industries including automotive will continue to get worse through the second half of the year before starting to improve.

TTNews.com reports that Pat Gelsinger said in an interview, “I don’t expect the chip industry is back to a healthy supply-demand situation until ’23. For a variety of industries, I think it’s still getting worse before it gets better.”

The report explains that the rebound from the depths of the pandemic has caused a flood of demand for the components that are the heart of all modern electronics. Lockdowns and changes in the way that people work have sped up a shift to digital systems that has further stretched the semiconductor industry’s ability to keep up with the flood of orders.

Last month the consultants Alix Partners warned that globally 3.9 million fewer vehicles will be built this year because of the shortage.

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