PNC Economics Research

Job growth weaker than expected in September, keeping the Fed on hold in October

The economy added 29k jobs in September, well below expectations.

October 02 2026 | Brian LeBlanc, Rayhan Momin

FOMC Hikes as Expected, as Dot Plot Points to Additional Rate Hikes

The FOMC, as widely expected, increased the fed funds rate by 25 basis points.

September 16 2026 | Gus Faucher

Job growth jumps in August with positive revisions

The economy added 162,000 jobs in August, nearly triple consensus
expectations

September 4 2026 | Brian LeBlanc, Rahan 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

Given Inflation Risks, FOMC Minutes Point to Another Rate Hike Later This Year

The FOMC voted unanimously to increase the fed funds rate at its mid-
September meeting citing high inflation.

October 7 2026 | Gus Faucher

August Trade Deficit Rises to the Largest Gap Outside the Early-2025 Trade Surge

The nominal U.S. goods and services trade deficit jumped 14% in August from July to $105.6 billion.

October 6 2026 | Ershang Liang

Minor Retreat Leaves ISM Services in Expansion with More Sustainable Strengths

The Institute for Supply Management (ISM) Services Purchasing Managers
Index (PMI) fell in September 2026 to 54.9.

October 5 2026 | Kurt Rankin

Strong Growth in Consumer Spending in August; Better Numbers on Saving

Nominal personal income rose 0.2% in August, with a 0.3% increase in aftertax income..

October 2 2026 | Gus Faucher

ISM Manufacturing Index Fell in September; Remains in Expansion

The Institute for Supply Management (ISM) Manufacturing Purchasing
Managers Index (PMI) fell modestly in September 2026.

October 1 2026 | Kurt Rankin

August Goods Trade Deficit Rose to the Largest Gap Outside the Early-2025 Trade Surge

The international trade goods deficit widened 12% in August.

September 30 2026 | Ershang Liang

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