The New York Federal Reserve released a new Index, The Global Supply Chain Pressure Index (GSCPI). The NY Fed concluded that global supply chain pressures may have peaked and might start to moderate somewhat going forward. The index uses 27 variables that are meant to capture factors that put pressure on the global supply chain, both domestically and internationally. GSCPI twenty-seven variables: The 27 variables include shipping rates and air freight costs between the United States, Asia and Europe. The … Continue reading “New York Fed Index Shows Global Supply Chain Pressures May Have Peaked”
Auto makers and parts makers experienced a steepening production decline in September with the sharpest drop in output since May of last year IHS Markit’s PMI surveys showed. Supply delays, which rose to unprecedented levels in September.
The latest Flash PMI data for September from IHS Markit shows the fourth successive monthly slowing of business activity. At the same time goods and services inflation is rising at the fastest rate in at least 22 years. The Bank of England is rightly concerned on scaling back its pandemic stimulus.
Australia’s Markit preliminary PMIs for September saw Manufacturing at 57.3 (prior 52.0) and Services off a 14-month low to 44.9 (prior 42.9) as continued lockdowns aimed to bring the COVID-19 situation under control dampened business conditions.
A private gauge of China’s Services activity in August fell to a post-Covid-19 low as heavy floods, a resurgence in Covid cases and power shortages in some cities weighed on China Caixin/Markit PMI Services for August falling to 46.7 (expected 52.6, prior 54.9)
Canada’s March Ivey PMI at 72.9, the highest Since April 2018. The index recovering from the pandemic lockdown and all the fallout from political scandals and falling Canadian energy prices. Employment was 62.7 versus 54.0 last month
China manufacturing and non-manufacturing purchasing managers indexes for March turned higher with export orders turning back over 50 in the midst of trade war dogma.