Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI increased 0.1% and core CPI rose 0.3% in November, the Bureau of Labor Statistics reported.
- The Producer Price Index for final demand remained unchanged in November, the Bureau of Labor Statistics found.
- Retail sales increased 0.3% in November compared with October, the Census Bureau stated in an advance report.
- Initial jobless claims fell by 19,000 to 202,000 in the week ended December 9, 2023, according to the Department of Labor.
- As of December 13, 2023, of the 498 S&P 500 Index companies reporting third-quarter earnings, 396 beat estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index decreased in November.
- Eurostat found euro area industrial production fell 0.7% in October compared with September.
- The ZEW Indicator of Economic Sentiment for Germany increased slightly in December.
- The yield on the 10-year Treasury note declined.
- The Federal Reserve held rates steady.
- The European Central Bank decided to maintain its current key interest rates.
- The Bank of England voted to keep its current bank rate.
- Deposit flight continues to pressure banks to tighten lending standards, increasing the potential risk of a credit squeeze.
- Declining liquidity and deteriorating financial conditions, combined with high valuations, are contributing to a substantial uptick in risk asset volatility.
- Global leverage is at worrisome levels and will eventually need to be paid for, at a time when most developed markets are facing a fiscal drag from the end of post-pandemic stimulus.
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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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