Economic Reports

Our economists provide analyses and forecasts of national, regional and global economic and financial trends.

National Economic Outlook

2021 PNC Corporate Responsibility Report

Latest National Economic Outlook Report

PNC's National Economic Outlook provides analysis and forecasts of key U.S. economic variables.

National Economic Outlook Report

Economic Reports

US Trade Deficit Narrowed in February After Hitting a Record High in January - 03/27/2025
Initial Unemployment Insurance Claims Edged Down to 224K in Week Ending March 22 and Continuing Claims Fell by 25K to 1.856 Million in the Week Ending March 15. - 03/27/2025
Single-Family Home Price Growth Picked Up Slightly at the Start of 2025 While Uncertainty Has Increased - 03/25/2025
Initial Unemployment Insurance Claims Edged Up to 223K in Week Ending March 15 and Continuing Claims Jumped by 33K to 1.892 Million in the Week Ending March 8. - 03/20/2025
Leading Economic Index Declines Again in February - 03/20/2025
Existing Home Sales Picked Up 4% in February, Coming in Better Than Expected - 03/20/2025
FOMC Keeps Fed Funds Rate Unchanged, Slows Pace of Balance Sheet Reduction; Fed Funds Rate Path Unchanged from December - 03/19/2025
U.S. Housing Starts Increased in February; Homebuilding Should Improve This Year, but Risks Remain - 03/18/2025
Small Gain in Retail Sales in February After January Decline - 03/17/2025
Homebuilder Confidence Falls for Second Straight Month in March on Weak Demand - 03/17/2025
Consumer Sentiment Plunged in March; That Marks the Third Consecutive Decline - 03/14/2025
PPI Inflation Backs Down from January's Jump at -0.01% for February 2025 - 03/13/2025

Fed, BOJ, BOE Stayed on Hold While Uncertainty to Growth and Inflation Outlooks Remain - 03/21/2025
ECB Cut Last Week, Fed to Hold Upon Sticky Inflation, BOC To Cut This Week - 03/11/2025
US Homebuilding and Consumer Confidence Fell in Early 2025 - 02/27/2025
RBA Made the First Rate Cut Since Late 2020; Eurozone and UK Economies Expanded in Q4 - 02/19/2025
US Labor Market Softened in 2024 But Remained Solid; BOE Cut Upon Weaker Growth - 02/10/2025
Fed Held While BOJ Hiked; ECB and BOC Cut to Balance Inflation and Growth Risks - 02/03/2025

PNC's National Economic Outlook provides analysis and forecasts of key U.S. economic variables, such as real GDP, interest rates, inflation, income, employment, industrial production and house prices.

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PNC's Market Expectation Survey lists the current consensus forecast for key economic data releases for the upcoming week, as well as PNC's own forecast for each item. A comprehensive calendar listing recent data for key economic indicators is provided on the second page.

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Meet Our Economists

Augustine Faucher

Senior Vice President & Chief Economist

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Stuart G. Hoffman

Senior Vice President & Senior Economic Advisor

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Kurt J. Rankin

Vice President & Senior Economist

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Ershang Liang

Economist

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Contact Us

Economists

Economics Department
The PNC Financial Services Group, Inc.
300 Fifth Avenue
The Tower at PNC Plaza
Pittsburgh, PA 15222-2401

economics@pnc.com

News & Insights

Running Your Business

Business Owners Optimistic Despite Potential Global Economic Challenges

PNC's Spring 2025 survey highlights confidence in business prospects and national economy, but reservations about global trade policy.

3 min read

Running Your Business

Fall 2024: Business Leaders Optimistic About Economy and Business Prospects

PNC survey reflects anticipated growth despite lingering concerns on inflation

3 min read

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