New York Fed starts new index that measures supply chain pre...| MENAFN.COM

Friday, 01 July 2022 05:31 GMT

New York Fed starts new index that measures supply chain pressure


(MENAFN) On Wednesday, the Federal Reserve Bank of New York stated in an announcement that the monthly publication of a new examination product concentrated on measuring the strength of worldwide supply chain disruptions.

The Global Supply Chain Pressure Index (GSCPI), a single measure of international supply chain weights, is going to be modernized regularly at 10 AM ET on the fourth business day of every month.

The GSCPI can be working to measure the significance of supply restraints with respect to financial situations and how those restraints develop.

Jan Groen, financial research advisor at the New York Fed’s Monetary Policy Research Division stated that "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.”

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