Highlights of key economic statistics from last week compiled by Putnam Investments.
- The IHS Markit U.S. Composite PMI Output Index slipped to 55.0 in September from 55.4 in August.
- Factory orders increased 1.2% in August, the Census Bureau found.
- Initial jobless claims fell by 38,000 to 326,000 in the week ended October 2, 2021, according to the Department of Labor.
- The United States added 194,000 jobs, and the unemployment rate fell to 4.8% in September from 5.2% in August.
- As of September 30, 2021, of the 16 S&P 500 Index companies reporting third-quarter earnings, 12 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The IBD/TIPP Economic Optimism Index fell and remained in negative territory for the second consecutive month.
- Eurostat reported that euro area industrial producer prices climbed 1.1% in August.
- The IHS Markit Eurozone Composite PMI Output Index fell to 56.2 in September from 59.0 in August.
- Euro area retail sales rose 0.3% in August compared with July, Eurostat noted.
- The yield on the 10-year Treasury note rose.
- 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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