Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 0.4% and core CPI increased 0.3% in October, the Bureau of Labor Statistics found.
- Wholesale inventories increased 0.6% in September compared with August, the Census Bureau stated.
- Initial jobless claims rose by 7,000 to 225,000 in the week ended November 5, 2022, the Department of Labor noted.
- As of November 9, 2022, of the 452 S&P 500 Index companies reporting third-quarter earnings, 306 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index fell in October.
- The S&P Global Eurozone Construction PMI fell to 44.9 in October from 45.3 in September.
- Eurostat stated euro area retail sales grew 0.4% in September compared with August.
- The yield on the 10-year Treasury note plunged.
- High 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.
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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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