By the numbers: The economy this week

Update for November 11, 2019

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

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economy

  • Factory orders declined 0.6% in September, the Census Bureau stated.
  • Durable goods orders dropped 1.2% in September, the Census Bureau found.
  • The Census Bureau reported that the trade deficit narrowed in September.
  • The Markit U.S. Composite PMI Output Index slipped to 50.9 in October from 51.0 in September.

employment

  • Initial jobless claims fell by 8,000 to 211,000 in the week ended November 2, 2019, the Labor Department reported.

profits

  • As of October 31, 2019, of the 339 S&P 500 Index companies reporting third-quarter earnings, 255 beat analysts’ estimates, according to S&P Dow Jones Indices.

emotion

  • The University of Michigan’s index of consumer sentiment rose to 95.7 in November from 95.5 in October.

europe

  • Eurostat reported that industrial producer prices rose 0.1% in September.
  • Retail trade in the euro area increased 0.1% in September, Eurostat stated.
  • The Markit Eurozone Composite PMI Output Index edged up to 50.6 in October from 50.1 in September.

rates

  • The yield on the 10-year U.S. Treasury note rose.
  • The Bank of England held rates steady.

risks

  • The cumulative effect of tariffs and low corporate confidence will increase pressure on global manufacturing.
  • Brexit, Italian debt dynamics, and a fragile European banking system risk tipping Europe back into recession.
  • Weak stimulus in China thus far is showing little sign of slowing the pace of deceleration.

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.