Weekly economic update

Economic Update for July 24, 2017   |   Download PDF

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


Import and export prices fell in June, the BLS reported. The Commerce Dept. noted that June housing starts jumped 8.3%. The Conference Board Leading Economic Index surged in June. China's National Bureau of Statistics stated that June retail sales jumped 11.0% and industrial production climbed 7.6% from a year ago.


Initial jobless claims fell by 15,000 to 233,000 in the week ended July 15, 2017, according to the Labor Department. The four-week moving average was 243,750.


As of July 13, 2017, of the 30 S&P 500 Index companies reporting second-quarter earnings, 24 beat analysts' estimates, according to S&P Dow Jones Indices.


The Bloomberg Consumer Comfort Index increased to 47.6 in the week ended July 16, 2017, from 47.0 in the prior week.


Eurostat reported that annual inflation slipped to 1.3% in June from 1.4% in May. The ZEW Indicator of Economic Sentiment for Germany fell slightly. The U.K.'s Office for National Statistics noted that the 12-month inflation rate was 2.6% in June, down from 2.7% in May. Germany's Federal Statistical Office stated producer prices jumped 2.4% in June.


The yield on the 10-year U.S. Treasury note declined. The European Central Bank held rates steady. The Bank of Japan decided to keep its current monetary policy, but cut its inflation projections through 2019.


  • Uncertain timeline on key U.S. pro-growth measures
  • Leading indicators of Chinese nominal growth rolling over
  • Mismatch between low volatility market environment and policy uncertainty

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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.