By the numbers: The economy this week

Update for August 19, 2019

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

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economy

  • Retail sales increased 0.7% in July, the Census Bureau noted in an advance report.
  • The Federal Reserve reported that industrial production slipped 0.2% in July.
  • The Bureau of Labor Statistics found that both import and export prices rose 0.2% in July.
  • The CPI and core CPI both rose 0.3% in July, the Bureau of Labor Statistics stated.

employment

  • Initial jobless claims rose by 9,000 to 220,000 in the week ended August 10, 2019, according to the Department of Labor.

profits

  • As of August 9, 2019, with 90% of S&P 500 Index companies reporting second-quarter earnings, 75% reported a positive EPS surprise and 57% reported a positive revenue surprise, according to FACTSET.

emotion

  • The University of Michigan’s index of consumer sentiment dropped to 92.1 in August from 98.4 in July.
  • The NFIB Small Business Optimism Index increased in July.

europe

  • Eurozone GDP rose by 0.2% in the second quarter, according to Eurostat.
  • Germany’s GDP declined 0.1% in the second quarter, the Federal Statistical Office reported.
  • Eurostat found that the eurozone recorded a trade surplus in June.

rates

  • The yield on the 10-year U.S. Treasury note declined.

risks

  • No resolution to China trade war, or opening a new front with Europe on autos, risks more equity market turmoil.
  • Brexit, Italian debt dynamics, and the re-emergence of populism 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.