![](https://cdn.benzinga.com/files/imagecache/2048x1536xUP/images/story/2022/05/17/11169201436_a2f4960e51_k.jpg)
U.S. consumers are showing resilience in the face of high inflation, according to retail sales numbers from Tuesday morning, which came in higher month-over-month.
Although consumer spending is strong, supply constraints continue to present challenges, but GXO Logistics Inc (NYSE:GXO) Chief Investment Officer Mark Manduca remains optimistic.
"I think there are parts of the supply chain that are clearly improving at the moment," Manduca said Tuesday on "Benzinga Live."
What To Know: The biggest disruptions to supply chains have been extended lockdown measures in China and geopolitical tensions between Russia and Ukraine, he said.
"On the Shanghai side of things, clearly things have gotten better there's no question about that. We're beginning to see signs of easing there," Manduca said.
He told Benzinga that GXO started to see improving supply chain conditions in China at the end of April, although he warned that the "log jam" that has been built up as a result of lockdowns could have lingering effects.
"It doesn't just all of a sudden disappear because you are putting throughput through," he said.
The supply chain problems caused by Russia's invasion of Ukraine and the sanctions that followed are much less predictable.
"If that continues, say for another six to 12 months, we're going to see continued strained supply chains across the network," he said. "I don't know how long the Russia crisis is going to last for, I don't think anyone does, but Russia is where I would still point to in terms of the area of most fray and the most concern."
See the full interview here:
GXO Price Action: GXO Logistics shares have traded between $48.38 and $105.92 over a 52-week period. The stock closed Tuesday up 3.81% at $55.08.
Photo: Hernán Piñera from Flickr.