Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 1.3% and core CPI increased 0.7% in June, the Bureau of Labor Statistics found.
- The Producer Price Index for final demand climbed 1.1% in June, the Bureau of Labor Statistics stated.
- Retail sales rose 1.0% in June, according to an advance report from the Census Bureau.
- Initial jobless claims rose by 9,000 to 244,000 in the week ended July 9, 2022, according to the Department of Labor.
- As of July 7, 2022, of the 18 S&P 500 Index companies reporting second-quarter earnings, 15 beat analysts’ expectations, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index dropped in June, marking its sixth month below its 48-year average.
- Eurostat reported euro area industrial production grew 0.8% in May compared with April.
- The ZEW Indicator of Economic Sentiment for Germany plummeted in July.
- The United Kingdom’s Office for National Statistics reported GDP grew by 0.5% in May.
- The yield on the 10-year Treasury note traded in a range.
- The Federal Open Market Committee reported economic activity expanded at a modest pace since mid-May.
- Rising energy prices, worsened by the Russia-Ukraine War, increase the risk of stagflation and recession, even as central banks seek monetary policy normalization.
- 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.
Go behind the numbers for commentary from Putnam’s active investors
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.
More in: Macroeconomics