An analysis released by the Federal Reserve Bank of New York (FRBNY) on Jan. 6 suggests that China’s current COVID-19 outbreak is slowing the global supply chain’s return to a normal range and negatively impacting neighboring trade partners.
The FRBNY first released its Global Supply Chain Pressure Index (GSCPI), a measure of global supply chain conditions, in January 2021.
The GSCPI integrates transportation cost data with manufacturing industry indicators, such as Purchasing Manager’s Index (PMI) data on supplier delivery times, backlogs, and raw material inventories. It focuses on manufacturing in seven economies: China, the United States, the UK, the Eurozone, Japan, South Korea, and Taiwan….