New York Fed Sees Signs of Easing Global Supply Chain Disruptions

New Indicator GSCPI Unveiled to Show Supply Chain Pressure

[Asia Economy New York=Special Correspondent Baek Jong-min] An analysis suggests that the global supply chain disruption may have passed its peak.

The New York Federal Reserve Bank (New York Fed) released the Global Supply Chain Pressure Index (GSCPI) on its blog on the 4th (local time).

The New York Fed assessed that while concerns about global supply chain disruptions remain, the pressure has passed its peak and is easing.

The model identified that global supply pressures are about 4.5 points higher than the average level of 0. New York Fed economists noted that this is an extreme level not seen since 1997 but see potential for easing.

Gianluca Benigno, an economist at the New York Fed, explained, "Supply chain disruptions have been historically high, but they have reached a peak and may begin to ease somewhat going forward."

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