This new gauge says supply-chain woes may have peaked
The global supply chain is still a mess, but pressures may have peaked, according to an index put together by researchers at the New York Federal Reserve.
The Global Supply Chain Pressure Index, or GSCPI, surged in the early days of the pandemic as China imposed lockdown measures, then fell briefly as world production began to rebound in the summer of 2020. The gauge jumped sharply as winter 2020 approached and COVID-19 cases were resurgent.
More recently, the index “seems to suggest that global supply chain pressures, while still historically high, have peaked and might start to moderate somewhat going forward,” wrote New York Fed economists Gianluca Benigno, Julian di Giovanni, Jan J. J. Groen, and Adam I. Noble in a Tuesday blog post.
Federal Reserve Bank of New…
