(AGENPARL) – mer 18 maggio 2022 New York Fed Launches Global Supply Chain Pressure Index
Published on a monthly basis starting today, this index integrates transportation cost data and manufacturing indicators to provide a gauge of global supply chain conditions
The GSCPI can be used to gauge the importance of supply constraints with respect to economic conditions, and how those constraints evolve over time. Supply chain operations have become a major problem since the start of the COVID-19 pandemic, and assessing the intensity of this issue has posed a challenge because conventional measures are largely focused on specific dimensions of global supply chains. The GSCPI integrates over 27 variables from commonly used metrics, including data from global transportation costs and regional manufacturing surveys across seven economies, to track shifts in supply chain pressures from 1997 to the present.
“The GSCPI is an important product because everyone across the global economy has been impacted by factory shutdowns, mobility restrictions, and widespread lockdowns during the COVID-19 pandemic,” said Jan Groen, Economic Research Advisor in the New York Fed’s Monetary Policy Research Division. “Our index provides one bird’s-eye view of potential disruptions as well as regional indicators for analyzing trade, inflation, and globalization trends across the United States, China, Japan, the Euro-area, South Korea, Taiwan, and the United Kingdom.”
“The index intends to help policymakers, analysts, manufacturers, and consumers better understand how the evolution of certain pressures can lead to different outcomes in terms of exports and imports, such as scarcity and cost for goods and products,” said Gianluca Benigno, Head of International Studies in the New York Fed’s Monetary Policy Research Division.
About the Applied Macroeconomics and Econometrics Center (AMEC)
Contact
Mariah Measey