Weekly economic update for February 27, 2024


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


economy

  • The Conference Board Leading Economic Index fell in January.
  • Existing home sales expanded in January, the National Association of Realtors reported.

Employment

  • Initial jobless claims fell 12,000 to 201,000 in the week ended February 17, 2024, according to the Department of Labor.

Profits

  • As of February 14, 2024, of the 383 S&P 500 Index companies reporting fourth-quarter earnings, 292 beat analysts’ estimates, according to S&P Dow Jones Indices.

Emotion

  • The ifo Business Climate Index rose in February.

Europe

  • Eurostat reported the euro area annual inflation rate fell to 2.8% in January from 2.9% in December.
  • Eurostat found euro area construction production increased 0.8% in December compared with November.

Rates

  • The yield on the 10-year Treasury note traded in a range.

Risks

  • Rate of inflation moderation
  • Slower economic growth amid higher interest rates
  • Magnitude of earnings degradation

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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.