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2024 Predictions for Industry and Global Supply Chains- Prediction Two

Supply Chain Matters

The Ferrari Consulting and Research Group through its affiliate the Supply Chain Matters blog shares samples of individual prediction snapshots that will be included in our Annual 2024 Predictions for Industry and Global Supply Chains Research Advisory publishing later this month. Such efforts indeed occurred as was added evidence.

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Global Wide Manufacturing Output Strengthens in March 2024

Supply Chain Matters

Supply Chain Matters provides readers a further installment in our global supply chain assessment series in providing highlights on reported March 2024, and Q1-2024 global and regional production and supply chain PMI indices. This index closed Q1-2024 at 1.8 Morgan Global Manufacturing PMI® ended March on an optimistic footing.

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Global Manufacturing PMI Levels Rise in January 2024

Supply Chain Matters

Supply Chain Matters provides a monthly highlights of reported January 2024 global and regional production and supply chain PMI indices. Morgan Global Manufacturing PMI® began 2024 with output levels rising for the first time in eight months. The January 2024 reading of 50.0 increased 1.1 percentage points from the 48.9

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World Bank Revises 2023 Global Growth But Downgrades 2024

Supply Chain Matters

In the not so optimistic category, the bank revised its 2024 global growth forecast to 2.4 The current forecast for 2024 growth is 0.8 That statement portends stubbornly high interest rates will likely extend into 2024. percent, down from the January estimate of 2.7 percent in 2023, compared to 4.1 percent in 2022.

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Red Sea Ocean Transport Shipping Disruption Update

Supply Chain Matters

Latest Developments As a result of the continued attacks, major container shipping lines continue in re-routing ships around South Africa’s Cape of Good Hope to reach European and added destinations. Tobias Meyer, CEO of DHL Group indicated that the rerouting of ships around Africa is leading to imbalances in container capacity.

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Red Sea Shipping Disruption- Developments and Indicators

Supply Chain Matters

None the less, Maersk , along with three other container lines have made the decision to temporarily discontinue Red Sea transits and again seek transits around Africa by the Cape of Good Hope , added days to shipment and estimated arrival times. That is in the light of expected excess shipping vessel capacity available in 2024.

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Building Signs for Another Global Maritime Disruption

Supply Chain Matters

As a consequence, the top three container shipping lines, Maersk Line, CMA CGM , Hapag Lloyd , announced their intent to begin routing ships toward the Cape of Good Hope in southern Africa avoiding the Suez Canal. The results, as the saying goes, are often reflected in history.

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