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The
bank said Friday that it is launching new “Supply Availability
Indexes” via a blog posting on Monday that going forward will
feature as part of its regular monthly surveys of regional
business activity.
Noting that supply chain pressures are a key driver of
inflation, the bank said in a press release that the new indexes
“present a new gauge to measure how widespread supply
disruptions are, understand if availability is improving, and
track inflationary pressures and the impact on local firms.”
The indexes will feature in future Empire State Manufacturing
and Business Leaders surveys, the bank said. The new gauges can
be joined with the bank’s monthly Global Supply Chain Pressures
Index “to compare trends in the U.S to international supply
availability,” the New York Fed said.
After surging during the coronavirus pandemic, supply chain
pressures have subsided and helped inflation pressures fall
markedly from its peak. The bank’s global supply chain index has
been showing muted pressure on that front for some time.
(Reporting by Michael S. Derby; Editing by Chizu Nomiyama)
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