Weekly economic update

Economic Update for October 17, 2016   |   Download PDF

Highlights of news-making events of the past week, from the economy and profits to Europe and interest rates.


The BLS reported both import and export prices as well as producer prices rose in September. The Commerce Dept. noted retail sales increased 0.6% in September. Japan's METI noted wholesale trade increased 1.4% in August. China's National Bureau of Statistics found producer prices rose 0.1% and inflation increased 1.9% in September.


Initial jobless claims totaled 246,000 for the week ended October 8, 2016, unchanged from the prior week. The four-week moving average was 249,250.


As of October 6, 2016, of the 24 S&P 500 Index companies reporting third-quarter earnings, 19 beat analysts' estimates, according to S&P Dow Jones Indices.


The University of Michigan preliminary index of consumer sentiment fell to 87.9 in September from 91.2 in August. The Bloomberg Consumer Comfort Index rose to 42.1 in the week ended October 13, 2016, up from 41.4 in the prior week.


Eurostat reported industrial production was up by 1.6% in the euro area in August. Germany's Federal Statistical Office noted consumer prices rose 0.7% in September and exports increased 9.8% in August. The ZEW Indicator of Economic Sentiment for Germany increased in October.


The yield on the 10-year U.S. Treasury note rose. In a speech on macroeconomic research at a Boston Fed conference, Fed Chair Janet Yellen discussed possible reasoning why "policymakers may want to aim at being more accommodative during recoveries."


  • Political uncertainty surrounding U.S. election cycle
  • Threat of terrorist acts in Europe
  • Constitutional referendum in Italy

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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.