Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 0.4% and core CPI increased 0.6% in September, the Bureau of Labor Statistics reported.
- The Producer Price Index for final demand increased 0.4% in September, according to the Bureau of Labor statistics.
- Initial jobless claims rose by 9,000 to 228,000 in the week ended October 8, 2022, the Department of Labor found.
- As of October 7, 2022, of the 20 S&P 500 Index companies reporting third-quarter earnings, 12 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index rose slightly in September.
- Eurostat reported euro area industrial production increased 1.5% in August compared with July.
- Germany’s Federal Statistical Office found the annual inflation rate rose to 10.0% in September from 7.9% in August.
- The United Kingdom’s Office for National Statistics noted GDP fell 0.3% in August.
- The yield on the 10-year Treasury note rose.
- 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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