Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 0.8% and core CPI increased 0.5% in November, the Bureau of Labor Statistics reported.
- The trade deficit narrowed in October, according to the Census Bureau.
- The Federal Reserve found consumer credit increased at an annual rate of 4.6% in October.
- Initial jobless claims fell by 43,000 to 184,000 in the week ended December 4, 2021, marking the lowest level of weekly claims since September 6, 1969, the Department of Labor reported.
- As of December 2, 2021, of the 495 S&P 500 Index companies reporting third-quarter earnings, 398 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The University of Michigan’s preliminary reading of its index of consumer sentiment rose to 70.4 in December from 67.4 in November.
- Eurostat reported euro area GDP rose 2.2% in the third quarter.
- Germany’s Federal Statistical Office noted factory orders dropped 6.9% in October compared with September.
- The ZEW Indicator of Economic Sentiment for Germany decreased in December.
- The yield on the 10-year Treasury note traded in a range.
- Divergent vaccination rollout timelines and virus mutations risk could cause a shift from a synchronized global recovery to a more fractured regional, multispeed recovery.
- Global leverage, created by pandemic response packages, is at worrisome levels and will eventually need to be paid for.
- Upward pressure on inflation from multiple fronts (energy prices, housing costs, and the labor market) could pressure central banks to pull forward their timelines for monetary policy normalization.
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All economic and performance information is historical and does not guarantee future results. The views and opinions expressed are those of Putnam Investments, are subject to change with market conditions, and are not meant as investment advice.
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