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SPARE CAPACITY PERSISTS GLOBALLY, WHILE NORTH AMERICA REPORTS A STEEPER PULLBACK IN MANUFACTURING DEMAND, SIGNALLING WEAK CONDITIONS HEADING INTO 2026: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX

GEP Global Supply Chain Volatility Index, a leading economic indicator based on a monthly survey of 27,000 businesses, shows that global supply chains remained underutilized in November, with manufacturers continuing to limit purchasing, signaling a weakening outlook for the start of 2026.

articleS&p Global Inc.December 10, 20256/company/sandp-global-inc/news/spare-capacity-persists-globally-while-north-america-reports-a-steeper-pullback-in-manufacturing-demand-signalling-weak-conditions-heading-into-2026-gep-global-supply-chain-volatility-index
SPARE CAPACITY PERSISTS GLOBALLY, WHILE NORTH AMERICA REPORTS A STEEPER PULLBACK IN MANUFACTURING DEMAND, SIGNALLING WEAK CONDITIONS HEADING INTO 2026: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX

About this update from S&p Global Inc.

[{"type":"list","items":[{"val":[{"type":"text","content":"North America posts the steepest decline in input demand by region, signaling softening activity heading into 2026","length":114,"tagName":"p"}]},{"val":[{"type":"text","content":"Europe and the UK remain subdued amid weak manufacturing pipelines","length":66,"tagName":"p"}]},{"val":[{"type":"text","content":"Asia sees another month of low demand as Chinese factory purchasing continues to slow","length":85,"tagName":"p"}]},{"val":[{"type":"text","content":"With ample spare capacity worldwide, companies face little price pressure outside of tariffs","length":92,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":357,"olType":false},{"type":"text","content":"CLARK, N.J., Dec. 10, 2025 /PRNewswire/ -- GEP Global Supply Chain Volatility Index, a leading economic indicator based on a monthly survey of 27,000 businesses, shows that global supply chains remained underutilized in November, with manufacturers continuing to limit purchasing, signaling a weakening outlook for the start of 2026.","length":338,"tagName":"p"},{"type":"image","alt":"Interpreting the data:\r\nIndex > 0, supply chain capacity is being stretched. The further above 0, the more stretched supply chains are.\r\nIndex < 0, supply chain capacity is being underutilized. The further below 0, the more underutilized supply chains are.","displaySize":"","headline":null,"caption":"Interpreting the data: Index > 0, supply chain capacity is being stretched. The further above 0, the more stretched supply chains are. Index NOVEMBER 2025 REGIONAL KEY FINDINGS","length":35,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"ASIA: Index rose to -0.16, from -0.30, signaling less spare capacity than in October across Asia's supply chains. While China remained a drag, ASEAN countries such as Indonesia and Vietnam were resilient.","length":208,"tagName":"p"}]},{"val":[{"type":"text","content":"NORTH AMERICA: Index fell to -0.53, from -0.45, indicating the highest degree of underutilized supplier capacity since March. The data point to a weakening near-term outlook for North American manufacturing.","length":207,"tagName":"p"}]},{"val":[{"type":"text","content":"EUROPE: Index dips to -0.33, from -0.25, highlighting ongoing fragility across Europe's industrial economy.","length":111,"tagName":"p"}]},{"val":...

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