Weekly economic update for January 16, 2024

Weekly economic update for January 16, 2024

Highlights of key economic statistics from last week compiled by Putnam Investments.


  • The CPI and core CPI both rose 0.3% in December, the Bureau of Labor Statistics found.
  • Wholesale sales remained flat in November compared with October, the Census Bureau stated.
  • Wholesale inventories fell 0.2% in November compared with October, the Census Bureau noted.


  • Initial jobless claims fell by 1,000 to 202,000 in the week ended January 6, 2024, the Department of Labor noted.


  • As of January 4, 2024, of the 20 S&P 500 Index companies reporting fourth-quarter earnings, 19 beat analysts’ estimates, according to S&P Dow Jones Indices.


  • The NFIB Small Business Optimism Index rose in December.


  • The European Commission’s Economic Sentiment Indicator increased in both the euro area and the EU in December.
  • Germany’s Federal Statistical Office noted industrial production declined 0.7% in November compared with October.


  • The yield on the 10-year Treasury note traded in a range.


  • Rate of inflation moderation
  • Slower economic growth amid higher interest rates
  • Magnitude of earnings degradation

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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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