By the numbers: The economy this week

Update for January 19, 2020

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

economy

  • The CPI rose 0.4% and core CPI increased 0.1% in December, according to the Bureau of Labor Statistics.
  • Import prices rose 0.9% and export prices increased 1.1% in December, the Bureau of labor Stastistics reported.
  • Retail sales declined 0.7% in December, according to an advance report from the Census Bureau.

employment

  • Initial jobless claims reached 965,000 in the week ended January 9, 2021, according to the Labor Department.

profits

  • As of January 7, 2021, of the 18 S&P 500 Index companies reporting fourth-quarter earnings, 18 beat analysts’ estimates, according to S&P Dow Jones Indices.

emotion

  • The NFIB Small Business Optimism Index declined to a below-average level in December.
  • The University of Michigan’s index of consumer sentiment dropped to 79.2 in January from 80.7 in December.

europe

  • Eurostat noted that euro area industrial production increased 2.5% in November compared with October.
  • Germany’s Federal Statistical Office found that wholesale prices grew 0.6% in December compared with November.
  • GDP fell by 2.6% in November, according to the United Kingdom’s Office for National Statistics.

rates

  • The yield on the 10-year Treasury note traded in a narrow range.
  • Most districts reported that economic activity rose modestly in December, according to the Federal Open Market Committee’s Beige Book report.

risks

  • 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.
  • 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.