New York Fed Enhances Supply Chain Data with New Indexes
The Federal Reserve Bank of New York is enhancing its supply chain data tracking with new "Supply Availability Indexes." Starting Monday, these indexes will be part of the monthly Empire State Manufacturing and Business Leaders surveys, providing a fresh look at supply chain disruptions and their impact on inflation and local firms.
Supply chain pressures, a key inflation driver, are crucial to understanding economic conditions. The new indexes will help measure the extent of supply disruptions, track improvements in availability, and monitor inflationary pressures. These gauges will complement the bank's Global Supply Chain Pressures Index, allowing for comparisons between U.S. and global trends.
The new indexes come as supply chain pressures have eased significantly since the peak of the pandemic, contributing to a notable reduction in inflation pressures.
Why This Matters
For the transportation and logistics industry, improved data on supply chain disruptions helps businesses plan more effectively and respond to changing conditions. Understanding these trends is key to managing inventory, costs, and operations.
Hot Take
The New York Fed's new Supply Availability Indexes are a game-changer for logistics pros. With better data on supply chain disruptions and inflation, businesses can stay ahead of the curve and make more informed decisions. Keep an eye on these indexes for insights into the latest supply chain trends.
The Federal Reserve Bank of New York is enhancing its supply chain data tracking with new "Supply Availability Indexes."