© Reuters. FILE PHOTO: Shipping containers are seen stacked on a docked freight ship as a guest aircraft takes off from Newark Airport, in Port Elizabeth, New Jersey, U.S., July 12,2023 REUTERS/Mike Segar/File Photo
By Michael S. Derby
NEW YORK (Reuters) – Supply chain pressures cooled down last month, the Federal Reserve Bank of New York stated on Friday, however it’s possible the benign reading might be the calm before some turbulence showsup.
The bank’s Global Supply Chain Pressure index moved to a reading of -0.15 in December from November’s upwardly modified 0.13.
December’s unfavorable reading points to below-normal supply chain pressures, which recommends a lessened contribution to inflation pressures. The bank offered no commentary on what drove the mostcurrent modifications in the index, which returned to unfavorable area where, conserve the favorable November checkingout, it’s been giventhat February2023
Supply chain pressures have figured plainly in the dispute over inflation motorists for some time. Disruptions in the motion of items was a secret aspect pressing the inflation rise that struck in the wake of the start of the coronavirus pandemic. Supply chain pressures peaked in December 2021 when the New York Fed index stood at a record 4.33, and have moved down relatively gradually because that point, which has in turn likewise tracked a re