NY Fed says supply chain pressures normalized in February

NEW YORK, March 6 (Reuters) - The Federal Reserve Bank of New York reported Monday a large drop in global supply chain pressures last month.

The bank said that its monthly Global Supply Chain Index moved to a reading of negative 0.26 in February, down from the upwardly revised 0.95 seen in January. The negative reading was the first since August 2019.

The bank said that reading for last month signaled a notable drop in supply chain pressures, which wreaked havoc throughout the global economy due to the coronavirus pandemic. The index's recent shifts "suggest that global supply chain conditions have returned to normal after experiencing temporary setbacks around the turn of the year," the bank said.

Reporting by Michael S. Derby; Editing by Chizu Nomiyama

Reuters

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NY Fed says supply chain pressures normalized in February

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