By the numbers: The economy this week
Update for September 14, 2020 | Download PDF
Highlights of key economic statistics from last week compiled by Putnam Investments.
- The Producer Price Index for final demand increased 0.3% in August, the Bureau of Labor Statistics reported.
- The CPI and core CPI both rose 0.4% in August, the Bureau of Labor Statistics found.
- Wholesale sales rose 4.6% in July from June, the Census Bureau stated.
- Initial jobless claims reached 884,000 in the week ended September 5, 2020, the Department of Labor announced.
- As of September 2, 2020, with 99.8% of S&P 500 Index companies reporting second-quarter earnings, 84% reported a positive EPS surprise and 65% reported a positive revenue surprise, according to FactSet.
- The IBD/TIPP Economic Optimism Index declined in September.
- Eurostat reported that the euro area GDP declined by 11.8% in the second quarter.
- Germany’s industrial production grew 1.2% in July compared with June, the Federal Statistical Office noted.
- Germany’s exports rose 4.7% in July compared with June, the Federal Statistical Office stated.
- The yield on the 10-year Treasury note traded in a range.
- The European Central Bank held rates steady.
- A slowdown in the pace of mobility gains globally due to regional virus case spikes will continue to act as a drag on economic recovery.
- The liquidity-fueled recovery in risk assets will at some point need to resolve with the pace of recovery in fundamentals, and the latter may happen over a longer horizon than hoped.
- The possibility of a "blue wave" in the U.S. November election, with Democrats winning control of the House, Senate, and Presidency, could mean a future rollback of corporate tax cuts.
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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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