By the numbers: The economy this week

Update for January 21, 2020

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

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economy

  • The Producer Price Index for final demand advanced 0.1% in December, according to the Bureau of Labor Statistics.
  • Retail sales increased 0.3% in December, the Census Bureau stated in an advance report.
  • Import prices rose 0.3% in December while export prices fell 0.2%, according to the Bureau of Labor Statistics.

employment

  • Initial jobless claims fell by 10,000 to 204,000 for the week ended January 11, 2020.

profits

  • As of December 31, 2019, of the 15 S&P 500 Index companies reporting fourth-quarter earnings, 13 beat analysts’ estimates, according to S&P Dow Jones Indices.

emotion

  • The University of Michigan’s index of consumer sentiment slipped to 99.1 in January from 99.3 in December.

europe

  • Eurostat reported that industrial production rose 0.2% in the euro area in November.
  • The euro area posted a trade surplus in November, according to Eurostat.
  • In the United Kingdom, the CPI declined to 1.4% in December from 1.5% in November, the Office of National Statistics noted.

rates

  • The yield on the 10-year U.S. Treasury note traded in a narrow range.
  • In its Beige Book, the Federal Open Market Committee reported that the economy expanded "modestly" in the last six weeks of 2019.

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.

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.

Your clients should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus containing this and other information for any Putnam fund or product, call Putnam at 1-800-354-4000. Your clients should read the prospectus carefully before investing.