Highlights of key economic statistics from last week compiled by Putnam Investments.
- Durable goods orders increased 1.0% in October, the Census Bureau stated in an advance report.
- New home sales jumped 7.5% in October compared with September, according to the Census Bureau and the Department of Housing and Urban Development.
- Initial jobless claims rose by 17,000 to 240,000 in the week ended November 19, 2022, the Department of Labor reported.
- As of November 17, 2022, of the 469 S&P 500 Index companies reporting third-quarter earnings, 318 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The European Commission’s Flash Economic Sentiment Indicator for the euro area improved in November.
- The S&P Global Flash Eurozone PMI Composite Output Index increased to 47.8 in November from 47.3 in October.
- Germany’s Federal Statistical Office noted producer prices fell 4.2% in October compared with September.
- The yield on the 10-year Treasury note declined.
- 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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