Highlights of key economic statistics from last week compiled by Putnam Investments.
- The IHS Markit U.S. Composite PMI Output Index fell to 59.9 in July from 63.7 in June.
- The trade deficit widened in June compared with May, the Census Bureau found.
- Durable goods orders increased 0.9% in June, according to the Census Bureau.
- The United States added 943,000 jobs and the unemployment rate fell to 5.4% in July from 5.9% in June, the Bureau of Labor Statistics found.
- Initial jobless claims fell by 14,000 to 385,000 in the week ended July 31, 2021, the Labor Department reported.
- As of July 30, 2021, of the 294 S&P 500 Index companies reporting second-quarter earnings, 258 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The IBD/TIPP consumer confidence poll slipped in August.
- Euro area retail trade increased 1.5% in June compared with May, according to Eurostat.
- Eurostat reported that euro area industrial producer prices rose 1.4% in June compared with May.
- The IHS Markit Eurozone Composite PMI Output Index advanced to 60.2 in July from 59.5 in June.
- The yield on the 10-year Treasury note traded in a narrow range.
- The Bank of England decided to maintain its current bank rate.
- 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.
- A shift from “just in time” to “just in case” inventory models could exacerbate supply chain concerns.
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