By the numbers: The economy this week

Update for November 18, 2019   |   Download PDF

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

economy

  • The Bureau of Labor Statistics reported that the CPI rose 0.4% and core CPI increased 0.2% in October.
  • The Producer Price Index for final demand rose 0.4% in October, according to the Bureau of Labor Statistics.
  • In an advance estimate, the Census Bureau reported that retail sales increased 0.3% in October.

employment

  • Initial jobless claims rose by 14,000 to 225,000 in the week ended November 9, 2019, the Labor Department reported.

profits

  • As of November 11, 2019, of the 457 S&P 500 Index companies reporting third-quarter earnings, 341 beat analysts’ estimates, according to S&P Dow Jones Indices.

emotion

  • The ZEW Indicator of Economic Sentiment increased markedly in November.

europe

  • Euro area annual inflation fell to 0.7% in October from 0.8% in September, Eurostat noted.
  • Eurostat found that euro area industrial production was up by 0.1% in September.
  • Germany’s Federal Statistical Office noted that wholesale prices fell 2.3% in October.
  • In the United Kingdom, GDP grew 0.3% in the third quarter, according to the Office for National Statistics.

rates

  • The yield on the 10-year U.S. Treasury note declined.
  • In testimony before Congress, Federal Reserve Chairman Jerome Powell said the economic outlook "remains favorable."

risks

  • The cumulative effect of tariffs and low corporate confidence will increase pressure on global manufacturing.
  • Brexit, Italian debt dynamics, and a fragile European banking system risk tipping Europe back into recession.
  • Weak stimulus in China thus far is showing little sign of slowing the pace of deceleration.

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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.