Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 0.9% and core CPI increased 0.6% in October, the Census Bureau reported.
- The Producer Price Index for final demand increased 0.6% in October, the Bureau of Labor Statistics found.
- Wholesale inventories rose 1.4% in September compared with August, according to the Census Bureau.
- Initial jobless claims fell by 4,000 to 267,000 in the week ended November 6, 2021, the Department of Labor stated.
- As of November 4, 2021, of the 445 S&P 500 Index companies reporting third-quarter earnings, 355 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index decreased slightly in October.
- The University of Michigan’s preliminary reading of consumer sentiment dropped to 66.8 in November from 71.7 in October.
- Eurostat reported euro area industrial production declined 0.2% in September compared with August.
- Germany’s Federal Statistical Office reported exports declined 0.7% in September compared with August.
- The ZEW Indicator of Economic Sentiment for Germany increased in November.
- The yield on the 10-year Treasury note traded in a wide range.
- Divergent vaccination rollout timelines and virus mutations risk could cause a shift from a synchronized global recovery to a more fractured regional, multispeed recovery.
- Global leverage, created by pandemic response packages, is at worrisome levels and will eventually need to be paid for.
- Upward pressure on inflation from multiple fronts (energy prices, housing costs, and the labor market) could pressure central banks to pull forward their timelines for monetary policy normalization.
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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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