Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI remained unchanged while core CPI rose 0.2% in October, the Bureau of Labor Statistics found.
- The Producer Price Index for final demand fell 0.5% in October, the Bureau of Labor Statistics noted.
- Retail sales declined 0.1% in October compared with September, the Census Bureau stated.
- Initial jobless claims rose by 13,000 to 231,000 in the week ended November 11, 2023, according to the Department of Labor.
- As of November 8, 2023, of the 441 S&P 500 Index companies reporting third-quarter earnings, 351 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index decreased in October.
- The ZEW Indicator of Economic Sentiment for Germany increased in November.
- Eurostat reported euro area industrial production dropped by 1.1% in September compared with August.
- Eurostat noted euro area GDP growth fell 0.1% in the third quarter compared with the previous quarter.
- The yield on the 10-year Treasury note fell.
- Deposit flight continues to pressure banks to tighten lending standards, increasing the potential risk of a credit squeeze.
- Declining liquidity and deteriorating financial conditions, combined with high valuations, are contributing to a substantial uptick in risk asset volatility.
- Global leverage is at worrisome levels and will eventually need to be paid for, at a time when most developed markets are facing a fiscal drag from the end of post-pandemic stimulus.
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