Highlights of key economic statistics from last week compiled by Putnam Investments.
- The Conference Board Leading Economic Index increased in October.
- Industrial production increased 0.4% in September, the Federal Reserve stated.
- Housing starts dropped 8.1% in September compared with August, the Census Bureau noted.
- Initial jobless claims fell by 12,000 to 214,000 in the week ended October 15, 2022, the Department of Labor stated.
- As of October 17, 2022, of the 51 S&P 500 Index companies reporting third-quarter earnings, 32 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The ZEW Indicator of Economic Sentiment for Germany increased slightly in October.
- Eurostat reported euro area annual inflation rose to 9.9% in September from 9.1% in August.
- Eurostat found euro area construction production fell 0.6% in August, compared with July.
- The European Commission’s Economic Sentiment Indicator for the euro area fell in September.
- The yield on the 10-year Treasury note rose.
- In its Beige Book report, the Federal Open Market Committee noted economic activity expanded modestly in September, but conditions varied across districts.
- 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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