Global supply chains have excess capacity for the first time since June 2020, according to report compiled by S&P Global and GEP. The headline indicator has contracted following ten consecutive months of demand, lower transportation costs, significantly less stockpiling and few item shortages. And that switches conditions in favours of a ‘buyer’s market’ according to the report, which utilises data from PMI surveys sent to 40 countries and 27k companies. It is also more evidence of disinflation and softer growth going forward, with demand for raw materials, commodities and components remaining subdued. Whether this ... (full story)