Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 0.8% and core CPI increased 0.5% in February, the Bureau of Labor Statistics found.
- Wholesale sales rose 4.0% in January compared with December, the Census Bureau stated.
- The goods and services trade deficit increased in January, the Census Bureau noted.
- Initial jobless claims rose by 11,000 to 227,000 in the week ended March 5, 2022, the Department of Labor reported.
- As of February 28, 2022, of the 475 S&P 500 Index companies that reported fourth-quarter earnings, 363 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index decreased in February.
- The University of Michigan’s index of consumer sentiment fell to 59.7 in March from 62.8 in February.
- Eurostat reported euro area GDP rose by 0.3% in the fourth quarter.
- Germany’s Federal Statistical Office noted factory orders increased 1.8% in January compared with December.
- The yield on the 10-year Treasury note rose.
- The European Central Bank decided to hold rates steady and said it would modify the end date for its asset-purchasing program depending on economic data.
- Rising energy prices, worsened by the Russia-Ukraine crisis, 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, should lead 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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