Global Supply Chain Pressure Index (GSCPI): 2023
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Developments
| Month | Index |
|---|---|
| 31-Jan-2024 | -0.11 |
| 31-Dec-2023 | -0.15 |
| 30-Nov-2023 | 0.13 |
| 31-Oct-2023 | -0.38 |
| 30-Sep-2023 | -0.67 |
| 31-Aug-2023 | -1.09 |
| 31-Jul-2023 | -0.87 |
| 30-Jun-2023 | -1.11 |
| 31-May-2023 | -1.57 |
| 30-Apr-2023 | -1.34 |
| 31-Mar-2023 | -1.17 |
| 28-Feb-2023 | -0.27 |
| 31-Jan-2023 | 1.05 |
| 31-Dec-2022 | 1.30 |
February 2023
Supply chain pressures have returned to normal in February; this trend has been helping with good disinflation in past months. However, the recent stabilization could mean a limited effect on CPI going forward.
- Global supply chain pressures decreased considerably in February and are now below the historical average.[1]
- There were significant downward contributions by the majority of the factors, with the largest negative contribution from European Area delivery times.[1]
March 2023
Global supply chain conditions have largely normalized, this trend will continue to contribution to desinflation in the goods sectors, however the contribution will start to be more limited, after supply chain normalized more and more.[1]
- Global supply chain pressures decreased again in March, falling from .28 to 1.06 standard deviations below the index’s historical average
- There were significant downward contributions by many of the factors, with the largest negative contributions from European Area delivery times, European Area backlogs, and Taiwanese purchases
April 2023
- Global supply chain pressures decreased again in April, falling to 1.32 standard deviations below the index’s historical average. The March value was revised downward from 1.06 to 1.15 standard deviations below the index’s historical average.[2]
- There were significant downward contributions from Euro Area delivery times, Euro Area stocks of purchases, and Korean delivery times. While the overall index declined, there was a notable upward contribution from Taiwan stocks of purchases
May 2023
The report said supply chain pressures were below average in all regions of the world considered in the index.
- The GSCPI decreased again in May, falling to -1.71 from -1.35; the April value was revised downward from -1.32. GSCPI readings measure standard deviations from the index’s historical average.
- There were significant downward contributions from Great Britain backlogs and Taiwan delivery times. Euro Area delivery times and backlogs exhibited the largest sources of upward pressure in May.[2]
June 2023
- The GSCPI in June rose to -1.2 from a revised value of -1.56 in May; the previous release (unrevised) for May had been reported at -1.71. GSCPI readings measure standard deviations from the index’s historical average.[2]
- There were significant upward contributions from Great Britain and Euro Area backlogs as well as United States and Taiwan delivery times.
- Looking at the underlying data, the readings for Great Britain backlogs (the largest contributor to the upward move in the GSCPI this month) are above their historical average for the first time since February.
July 2023
- The GSCPI in July rose to -0.90 from a revised value of -1.14 in June; the previous release (before revision) for June had been reported at -1.20. GSCPI readings measure standard deviations from the index’s historical average.
August 2023
- The GSCPI in August remained virtually unchanged at -0.86. GSCPI readings measure standard deviations from the index’s historical average.[1]
September 2023
- The GSCPI rose to -0.69 in September, up from -1.08 in August (revised down from an initial reading of -0.86). [1]
October 2023
- The GSCPI dropped to -1.74 in October, down from -0.70 in September (revised down from an initial reading of -0.69). [1]
November 2023
- The GSCPI rose to 0.11 in November, up from -0.39 in October (revised up from an initial reading of -1.78). This major revision for October is due to a change in exchange rate weighting methodology. GSCPI readings measure standard deviations from the index’s historical average.[1]
December 2023
The GSCPI fell to -0.15 in December, down from 0.13 in November (revised up from an initial reading of 0.11). GSCPI readings measure standard deviations from the index’s historical average.[1]