By the numbers: The economy this week

Update for September 16, 2019   |   Download PDF

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

economy

  • The CPI increased 0.1% and core CPI rose 0.3% in August, according to the Bureau of Labor Statistics.
  • The Producer Price Index for final demand advanced 0.1% in August, the Bureau of Labor Statistics found.
  • Import and export prices both declined in August, the Bureau of Labor Statistics noted.
  • Retail sales grew 0.4% in August, the Census Bureau stated.

employment

  • Initial jobless claims fell by 15,000 to 204,000 in the week ended September 7, 2019, the Labor Department reported.

profits

  • As of September 5, 2019, of the 496 S&P 500 Index companies reporting second-quarter earnings, 366 — or 73.8% — beat analysts’ estimates, according to S&P Dow Jones Indices.

emotion

  • The University of Michigan’s index of consumer sentiment rose to 92.0 in September from 89.8 in August.

europe

  • Eurostat reported that industrial production fell 0.4% in July.
  • Germany’s Federal Statistical Office stated that exports jumped 3.8% year over year in July.
  • The Office of National Statistics noted that the trade deficit narrowed in the United Kingdom in the three months to July.
  • Consumer prices in Germany rose 1.4% year over year in August, the Federal Statistical Office found.

rates

  • The yield on the 10-year U.S. Treasury note rose.
  • The European Central Bank decided to cut interest rates and restart its bond purchasing program.

risks

  • The cumulative effect of tariffs and low corporate confidence will increase pressure on global manufacturing.
  • 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.

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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.