Weekly economic update for September 7, 2021

Weekly economic update for September 7, 2021

Highlights of key economic statistics from last week compiled by Putnam Investments.


  • The trade deficit narrowed in July, the Bureau of Economic Analysis reported.
  • Pending home sales dipped 1.8% in July, according to the National Association of Realtors.
  • Factory orders increased 0.4% in July, the Census Bureau found.


  • Initial jobless claims fell by 14,000 to 340,000 in the week ended August 28, 2021, the Labor Department reported.
  • The U.S. added 235,000 jobs and the unemployment rate fell to 5.2% in August from 5.4% in July, the Bureau of Labor Statistics stated.


  • As of August 31, 2021, of the 490 S&P 500 Index companies reporting second-quarter earnings, 422 beat analysts’ estimates, according to S&P Dow Jones Indices.


  • The Conference Board Consumer Confidence Index declined in August.


  • Euro area producer prices rose 2.3% in July compared with June, Eurostat reported.
  • Euro area annual inflation rose to 3.0% in August from 2.2% in July, according to Eurostat.
  • The European Commission Economic Sentiment Indicator for the euro area eased in August.


  • The yield on the 10-year Treasury note traded in a narrow 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.
  • A shift from “just in time” to “just in case” inventory models could exacerbate supply chain concerns.

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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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