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Supply Chains: Difference between revisions
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Goal in constructing the Global Supply Chain Pressure Index (GSCPI) was to develop a parsimonious measure of global supply chain pressures that could be used to gauge the importance of supply constraints with respect to economic outcomes. Our research indicates, for example, that changes in the GSCPI are associated with goods and producer price inflation in the United States and the euro area, both during the pandemic period and stretching back to 1997 (the starting point of our data set).<ref>https://www.newyorkfed.org/research/policy/gscpi#/overview</ref> | Goal in constructing the Global Supply Chain Pressure Index (GSCPI) was to develop a parsimonious measure of global supply chain pressures that could be used to gauge the importance of supply constraints with respect to economic outcomes. Our research indicates, for example, that changes in the GSCPI are associated with goods and producer price inflation in the United States and the euro area, both during the pandemic period and stretching back to 1997 (the starting point of our data set).<ref name=":0">https://www.newyorkfed.org/research/policy/gscpi#/overview</ref> | ||
The GSCPI integrates a number of commonly used metrics with the aim of providing a comprehensive summary of potential supply chain disruptions. Global transportation costs are measured by employing data from the Baltic Dry Index (BDI) and the Harpex index, as well as airfreight cost indices from the U.S. Bureau of Labor Statistics. The GSCPI also uses several supply chain-related components from Purchasing Managers’ Index (PMI) surveys, focusing on manufacturing firms across seven interconnected economies: China, the euro area, Japan, South Korea, Taiwan, the United Kingdom, and the United States. | The GSCPI integrates a number of commonly used metrics with the aim of providing a comprehensive summary of potential supply chain disruptions. Global transportation costs are measured by employing data from the Baltic Dry Index (BDI) and the Harpex index, as well as airfreight cost indices from the U.S. Bureau of Labor Statistics. The GSCPI also uses several supply chain-related components from Purchasing Managers’ Index (PMI) surveys, focusing on manufacturing firms across seven interconnected economies: China, the euro area, Japan, South Korea, Taiwan, the United Kingdom, and the United States. | ||
Methodology: https://www.newyorkfed.org/research/policy/gscpi#/faq | '''Methodology''': https://www.newyorkfed.org/research/policy/gscpi#/faq | ||
== Global Supply Chain Pressure Index (GSCPI) Developments == | == Global Supply Chain Pressure Index (GSCPI) Developments == | ||
| Line 11: | Line 11: | ||
!Month | !Month | ||
!Index | !Index | ||
|- | |||
|31-Mar-2024 | |||
| -0.27 | |||
|- | |- | ||
|29-Feb-2024 | |29-Feb-2024 | ||
|0. | | -0.11 | ||
|- | |- | ||
|31-Jan-2024 | |31-Jan-2024 | ||
| -0. | | -0.24 | ||
|- | |- | ||
|31-Dec-2023 | |31-Dec-2023 | ||
| -0. | | -0.15 | ||
|- | |- | ||
|30-Nov-2023 | |30-Nov-2023 | ||
|0. | |0.17 | ||
|- | |- | ||
|31-Oct-2023 | |31-Oct-2023 | ||
| Line 43: | Line 46: | ||
|- | |- | ||
|30-Apr-2023 | |30-Apr-2023 | ||
| -1. | | -1.31 | ||
|- | |- | ||
|31-Mar-2023 | |31-Mar-2023 | ||
| Line 52: | Line 55: | ||
|- | |- | ||
|31-Jan-2023 | |31-Jan-2023 | ||
|1. | |1.06 | ||
|- | |- | ||
|31-Dec-2022 | |31-Dec-2022 | ||
| Line 168: | Line 171: | ||
|0.15 | |0.15 | ||
|} | |} | ||
=== March 2024 === | |||
The GSCPI fell to -0.27 in March, down from -0.11 in February (revised down from an initial reading of 0.10). GSCPI readings measure standard deviations from the index’s historical average.<ref name=":0" /> | |||
=== February 2024 === | === February 2024 === | ||