Highlights of key economic statistics from last week compiled by Putnam Investments.
- Housing starts jumped 10.7% in February compared with January, according to the Census Bureau.
- The Conference Board Leading Economic Index increased in February.
- Initial jobless claims fell by 2,000 to 210,000 in the week ended March 16, 2024, the Department of Labor noted.
- As of March 14, 2024, of the 496 S&P 500 Index companies reporting fourth-quarter earnings, 366 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The ZEW Economic Sentiment Indicator for Germany rose in March.
- The euro area posted a trade surplus in January, according to Eurostat.
- Eurostat reported the euro area annual inflation rate fell to 2.6% in February from 2.8% in January.
- Germany’s Federal Statistical Office noted producer prices dropped 0.4% in February compared with January.
- The yield on the 10-year Treasury note traded in a range.
- The Bank of Japan decided to reverse its negative interest-rate policy and set the target range of the overnight rate at 0% to 0.1%.
- The Bank of England decided to maintain its bank rate at 5.25%.
- The Federal Reserve held rates steady.
- Rate of inflation moderation
- Slower economic growth amid higher interest rates
- Magnitude of earnings degradation
Go behind the numbers for commentary from Putnam's active investors
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.
For informational purposes only. Not an investment recommendation.
This material is provided for limited purposes. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument, or any Putnam product or strategy. References to specific asset classes and financial markets are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations or investment advice. The opinions expressed in this article represent the current, good-faith views of the author(s) at the time of publication. The views are provided for informational purposes only and are subject to change. This material does not take into account any investor’s particular investment objectives, strategies, tax status, or investment horizon. Investors should consult a financial advisor for advice suited to their individual financial needs. Putnam Investments cannot guarantee the accuracy or completeness of any statements or data contained in the article. Predictions, opinions, and other information contained in this article are subject to change. Any forward-looking statements speak only as of the date they are made, and Putnam assumes no duty to update them. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those anticipated. Past performance is not a guarantee of future results. As with any investment, there is a potential for profit as well as the possibility of loss.
Diversification does not guarantee a profit or ensure against loss. It is possible to lose money in a diversified portfolio.
Consider these risks before investing: International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Bond investments are subject to interest-rate risk, which means the prices of the fund’s bond investments are likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Unlike bonds, funds that invest in bonds have ongoing fees and expenses. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Commodities involve the risks of changes in market, political, regulatory, and natural conditions. You can lose money by investing in a mutual fund.
Putnam Retail Management.