Highlights of key economic statistics from last week compiled by Putnam Investments.
- GDP grew at an annual rate of 2.3% in the third quarter, the Bureau of Economic Analysis found.
- The Conference Board Leading Economic Index rose in November.
- The National Association of Realtors reported existing home sales increased 1.9% in November.
- Initial jobless claims totaled 205,000 in the week ended December 18, 2021, unchanged from the previous week, the Department of Labor stated.
- Corporate profits increased 3.4% at a quarterly rate in the third quarter, the Bureau of Economic Analysis reported.
- The Conference Board Consumer Confidence Index improved in December.
- The University of Michigan’s index of consumer sentiment rose to 70.6 in December from 67.4 in November.
- The European Commission’s flash consumer confidence indicator decreased in December.
- The Office for National Statistics noted the United Kingdom’s GDP is estimated to have increased 1.1% in the third quarter.
- 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.
- Upward pressure on inflation from multiple fronts (energy prices, housing costs, and the labor market) could pressure central banks to pull forward their timelines for monetary policy normalization.
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