Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 0.4% and core CPI increased 0.3% in September, the Bureau of Labor Statistics noted.
- The Producer Price Index for final demand rose 0.5% in September, according to the Bureau of Labor Statistics.
- Wholesale sales increased 1.8% in August compared with July, the Census Bureau found.
- Initial jobless claims remained unchanged at 209,000 in the week ended October 7, 2023, compared with the previous week, the Department of Labor reported.
- As of October 11, 2023, of the 20 S&P 500 Index companies reporting third-quarter earnings, 17 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index decreased in September.
- Germany’s Federal Statistical Office noted industrial production fell 0.2% in August compared with July.
- The U.K.’s Office for National Statistics reported GDP is estimated to have grown by 0.2% in August.
- The United Kingdom’s trade deficit narrowed in the three months to August, according to the Office for National Statistics.
- The yield on the 10-year Treasury note declined.
- Deposit flight continues to pressure banks to tighten lending standards, increasing the potential risk of a credit squeeze.
- 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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