Supply chain pressures remain well above their pre-pandemic levels, but there are signs that global trade relations could start to normalise this year — even as many countries face rising cases of the Omicron coronavirus variant and persistently high inflation.
A gauge of worldwide supply chain constraints produced by the Federal Reserve Bank of New York shows that such pressures reached their highest point in October 2021. But the index — which is based on 27 variables, including global shipping rates and air freight costs — ticked slightly lower in both November and December.
Some analysts believe that the squeeze in certain areas will continue to ease off in the coming months.
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