Highlights of key economic statistics from last week compiled by Putnam Investments.
- Retail sales increased 1.7% in October compared with September, according to an advance report from the Census Bureau.
- Import prices rose 1.2% and export prices increased 1.5% in October, the Bureau of Labor Statistics found.
- The Federal Reserve reported industrial production rose 1.6% in October.
- Initial jobless claims fell by 1,000 to 268,000 in the week ended November 13, 2021, according to the Department of Labor.
- As of November 11, 2021, of the 460 S&P 500 Index companies reporting third-quarter earnings, 352 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NAHB/Wells Fargo Housing Market Index showed builder confidence increased in November.
- Eurostat reported the euro area recorded a trade surplus in September.
- Euro area GDP grew 2.2% in the third quarter, according to Eurostat.
- Eurostat noted the euro area annual inflation rate rose to 4.1% in October from 3.4% in September.
- The yield on the 10-year Treasury note increased.
- Divergent vaccination rollout timelines and virus mutations risk could cause a shift from a synchronized global recovery to a more fractured regional, multispeed recovery.
- Global leverage, created by pandemic response packages, is at worrisome levels and will eventually need to be paid for.
- Upward pressure on inflation from multiple fronts (energy prices, housing costs, and the labor market) could pressure central banks to pull forward their timelines for monetary policy normalization.
Go behind the numbers for commentary from Putnam's active investors
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.
For informational purposes only. Not an investment recommendation.
This material is provided for limited purposes. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument, or any Putnam product or strategy. References to specific asset classes and financial markets are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations or investment advice. The opinions expressed in this article represent the current, good-faith views of the author(s) at the time of publication. The views are provided for informational purposes only and are subject to change. This material does not take into account any investor’s particular investment objectives, strategies, tax status, or investment horizon. Investors should consult a financial advisor for advice suited to their individual financial needs. Putnam Investments cannot guarantee the accuracy or completeness of any statements or data contained in the article. Predictions, opinions, and other information contained in this article are subject to change. Any forward-looking statements speak only as of the date they are made, and Putnam assumes no duty to update them. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those anticipated. Past performance is not a guarantee of future results. As with any investment, there is a potential for profit as well as the possibility of loss.
Diversification does not guarantee a profit or ensure against loss. It is possible to lose money in a diversified portfolio.
Consider these risks before investing: International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Bond investments are subject to interest-rate risk, which means the prices of the fund’s bond investments are likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Unlike bonds, funds that invest in bonds have ongoing fees and expenses. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Commodities involve the risks of changes in market, political, regulatory, and natural conditions. You can lose money by investing in a mutual fund.
Putnam Retail Management.
