SUPERB SUPPLY
05/08/2024 |
In another sign that inflation should soften, the NY Fed’s Global Supply Chain Pressure Index declined from -0.30 in March to -0.85 in April. It’s been below zero each of the last five months and 12 of the last 13 months, which is very much how the index behaved since the late 1990s. This means global production bottlenecks continue to recede and are like how they were pre-Covid.