By the numbers: The economy this week

Update for July 22, 2019

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


  • Import prices fell 0.9% and export prices declined 0.7% in June, the Bureau of Labor Statistics noted.
  • In an advance estimate, the Census Bureau stated that retail sales rose 0.4% in June.
  • Business inventories increased 0.3% in May, the Census Bureau reported.


  • Initial jobless claims rose by 8,000 to 216,000 in the week ended July 13, 2019, according to the Labor Department.


  • As of July 11, 2019, of the 23 companies of the S&P 500 Index reporting second-quarter earnings, 19 beat analysts’ estimates, according to S&P Dow Jones Indices.


  • The University of Michigan’s index of consumer sentiment rose to 98.4 in July from 98.2 in June.


  • Eurostat reported the euro area posted a trade surplus in May.
  • Euro area annual inflation rose to 1.3% in June from 1.2% in May, according to Eurostat.
  • Construction output in the euro area decreased by 0.3% in May, Eurostat stated.
  • The ZEW Indicator of Economic Sentiment for Germany declined in July.


  • The yield on the 10-year U.S. Treasury note declined.
  • Economic activity expanded at a moderate pace from mid-May through early July, according to the Federal Open Market Committee’s Beige Book report.


  • No resolution to China trade war, or opening a new front with Europe on autos, risks more equity market turmoil.
  • 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.