PNC Economics Research

Economic Consequences of the Iran Conflict

The United States and Israel conducted coordinated strikes over the weekend on Iran that killed Iran’s Supreme Leader.

2 March 2026 | Brian LeBlanc  

Supreme Court Strikes Down IEEPA Tariffs

 
The Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA).

 2 Mar 2026 | Brian LeBlanc

Supreme Court Likely to Decide Against IEEPA Tariffs

 
The Supreme Court is expected to issue an opinion this month on the legality of tariffs imposed under the International Emergency Economic Powers Act (IEEPA). 

 14 Jan 2026 | Rayhan Momin        

Consumer Health Check

Using PNC’s proprietary data to illuminate trends and risks shaping U.S. consumer health.

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Data Releases

February Job Losses Raise Labor Market Concerns

The U.S. economy lost 92,000 jobs in February, well below the consensus expectation for a gain of 65,000.

6 March 2026 | Gus Faucher

Retail Sales Slipped in January

Retail sales slipped 0.2% month-on-month in January, in line with PNC’s forecast.

6 March 2026 | Jay Hawkins   

Initial and Continuing Jobless Claims Remain Low in February

Initial jobless claims held steady at 213,000 in the week ending February 28.

5 March 2026 | Stuart Hoffman   

Nonfarm Productivity Growth Remained Solid in Q4

Nonfarm business productivity rose 2.8% annualized in the fourth quarter, down from 5.2% in the third quarter.

5 March 2026 | Jay Hawkins   

Beige Book says Economy Expanding Slight to Moderate Pace

The Beige Book characterized U.S. economic growth as expanding at a slight to moderate pace.  

4 March 2026 | Jay Hawkins   

ISM Services Powered Higher to 56.1 in February 2026

ISM services activity rose to 56.1 in February 2026, its highest reading since August 2022.

4 March 2026 | Kurt Rankin   

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Economics Research Archives

Monthly detailed writeup on PNC's outlook for the economy and interest rates.

Published semi-annually, PNC's survey of small and mid-size business owners' expectations for their own businesses' performance, and their outlook for the national and regional economies are described in detail (available in March and September).

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