PNC Economics Research

October CPI: no reprieve from high inflation

Headline CPI increased 0.4%MoM in October, with Core CPI coming in at 0.3%MoM.

November 10 2026 | Brian LeBlanc

Job gains crush expectations, unemployment rate falls

Job growth crushed expectations in October, increasing by 165k versus a consensus expectation of 70k.

November 6 2026 | Brian LeBlanc

Midterm elections: Implications of a divided government

Democrats have won majorities in both the House and Senate following the
November 3rd midterm election.

November 6 2026 | Alex Mackie, Isfar Munir, Sergio Cervantes, Alice Crundwell

Consumer Health Check

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

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Data Releases

ISM Services Index Fell in October, But Remained in Expansion

The ISM Services Index fell slightly in October but remained comfortably in
expansion.

November 4 2026 | Gus Faucher

ISM Manufacturing Index Rebounded in October, In Expansion Throughout 2026

The Institute for Supply Management’s manufacturing purchasing managers index rose in October to its second-strongest reading in 2026.

November 2 2026 | Gus Faucher

Construction spending Fell in September on a 5% contraction in residential

Total construction spending fell sharply in September from an upwardly revised August level.

November 2 2026 | Ershang Liang

Real After-Tax Income Fell in September, With Real Spending Flat

Nominal personal income rose 0.2% in September, the weakest growth since April.

October 29 2026 | Gus Faucher

September Goods Trade Deficit Reached Its Largest Level Outside the Early-2025 Trade Surge

The international goods trade deficit widened 2.1% in September.

October 28 2026 | Ershang Liang

Consumer Confidence Unexpectedly Improved in October

Consumer confidence improved to 91.7 in October after falling for three straight months.

October 27 2026 | Jay Hawkins

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