The GEP Global Supply Chain Volatility Index rose to -0.17 in June 2025 from -0.46 in May, the highest level this year, indicating global supply chains are operating near full capacity despite ongoing tariff concerns.

• Europe’s index climbed to 0.01 (from -0.30), signaling full capacity use for the first time in over two years, driven by German exports and domestic demand.
• North America’s index rose to -0.06 (from -0.24) as U.S. manufacturers accelerated purchases ahead of the tariff pause ending.
• Asia’s index increased to -0.27 (from -0.40), with stronger activity in India, Japan, and South Korea, though Southeast Asia remains underutilized.
• The U.K.’s index improved to -0.41 (from -0.97), the highest in 7 months but still indicates spare capacity.
• Despite a surge in procurement and stockpiling, global shortages, labor constraints, and transportation costs remain stable and historically typical.