The pandemic revealed how vulnerable our economy is to supply chain disruptions, with shortages driving price increases across multiple sectors. Our Supply Chain Monitor tracks bottlenecks in key industries and transportation networks that can affect prices and production capacity throughout the economy. We analyze shipping costs, delivery times, inventory levels, and component availability across critical sectors like semiconductors, housing materials, and energy.
Supply Chain Monitor
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Aggregate industrial production was unchanged month-over-month in the April data, translating to a decline of 0.4% year over year.
PPI for All Commodities increased by a substantial 0.9% month over month, representing an increase of 0.1% year over year. We may be reaching the very tail end of any remaining deflation from post-pandemic supply chain resolution.
Overall, the Q1 GDP print looks weaker overall than the previous print, with investment growth correspondingly weaker.
April's ISM PMIs came in cool, suggesting further deceleration.
Today’s edition focuses on the Industrial Production data produced by the Federal Reserve – a dataset which allows us to evaluate and aggregate sector-level shifts in production and output.
Today’s edition focuses on the Producer Price Index data collected by the Bureau of Labor Statistics – a dataset which allows us to evaluate and understand aggregate and sector-level shifts in the input costs faced by firms.
The March ISM Manufacturing PMIs came in strong earlier this week, with a dramatic increase in the Production index leading the way.
The aggregate Industrial Production index ticked up 0.1% month over month, for a reading that is down 0.2% year over year.
The Supply Chain Monitor is Employ America’s Macro Suite newsletter covering developments in data on the supply side of the economy.