By the numbers: The economy this week

Update for February 18, 2020

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

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economy

  • The CPI rose 0.1% and core CPI increased 0.2% in January, the Bureau of Labor Statistics found.
  • Retail sales increased 0.3% in January, according to the Census Bureau.

employment

  • Initial jobless claims rose by 2,000 to 205,000 in the week ended February 8, 2020, according to the Department of Labor.

profits

  • As of February 14, 2020, of the 399 S&P 500 Index companies reporting fourth-quarter earnings, 277 beat analysts’ estimates, according to S&P Dow Jones Indices.

emotion

  • The NFIB Small Business Optimism Index increased in January.
  • The University of Michigan’s index of consumer sentiment rose to 100.9 in February from 99.8 in January.

europe

  • The eurozone posted a trade surplus in December, Eurostat found.
  • Eurostat reported that euro area GDP grew 0.1% in the fourth quarter.
  • Euro area industrial production dropped 2.1% in December, according to Eurostat.
  • The Office of National Statistics reported that GDP growth in the United Kingdom was flat in the fourth quarter.

rates

  • The yield on the 10-year Treasury note traded in a narrow range.
  • Federal Reserve Chairman Jerome Powell said that the economy had grown at a "moderate pace."

risks

  • Global manufacturing remains under pressure from lagged effects of tariffs, supply chain disruptions, and the China slowdown caused by the coronavirus.
  • Brexit, Italian debt dynamics, and a fragile European banking system risk tipping Europe back into recession.
  • The lack of a V-shaped economic recovery threatens high valuations of risk assets which have priced in that recovery.

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.