By the numbers: The economy this week

Update for April 5, 2021

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

economy

  • Pending home sales fell 10.6% in February, according to the National Association of Realtors.
  • The Markit U.S. Manufacturing PMI rose to 59.1 in March from 58.6 in February.

employment

  • The U.S. added 916,000 jobs and the unemployment rate fell to 6.0% in March from 6.2% in February, according to the Bureau of Labor Statistics.
  • Initial jobless claims reached 719,000 in the week ended March 27, 2021, the Labor Department reported.

profits

  • As of March 31, 2021, of the 500 S&P 500 Index companies reporting fourth-quarter earnings, 384 beat analysts’ expectations, according to S&P Dow Jones Indices.

emotion

  • The Conference Board Consumer Confidence Index jumped in March.

europe

  • The European Commission’s Economic Sentiment Indicator improved sharply in March.
  • Eurostat reported that annual inflation was expected to rise to 1.3% in March, up from 0.9% in February.
  • Germany’s Federal Statistical Office noted that inflation rate is expected to increase 1.7% year over year in March.

rates

  • The yield on the 10-year Treasury note traded in a narrow range.

risks

  • Divergent vaccination rollout timelines and virus mutations risk causing a shift from a synchronized global recovery to a more fractured regional multi-speed recovery.
  • Global leverage, created by pandemic response packages, is at worrisome levels and eventually will need to be paid for.
  • Pandemic and financial repression policies have exacerbated global wealth inequality.

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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.