This year’s pharmaceutical cold chain predictions explore how current events might impact supply chains over the next year.
This year’s pharmaceutical cold chain predictions bridge the old and the new. A picture of the post-COVID world is becoming clearer, but uncertainty remains about how military conlict in Ukraine, a looming recession, high fuel prices and carbon dioxide shortages may impact the future of supply chains. Let’s take a look at how 2023 might unfold.
Inflation and Potential Recession
In the summer of 2022, debates began about whether the U.S. economy was in a recession. By a standard definition of two consecutive quarters of negative gross domestic product, the U.S. already entered a recession. But many economists look at the economy more holistically and have yet to agree that the U.S. meets recession criteria. Regardless, the current state of the economy is impacting general consumers and businesses.
Though the unemployment rate in October 2022 was 3.7% lower than average for the U.S. – inflation is a growing concern for families. As of October 2022, the consumer price index had increased 7.7% over the past 12 months. Key contributors include the shelter index, medical care and personal care, among others.
Read the full article in Pharmaceutical Outsourcing.
