Economics Research

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

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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

Economics Research

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.

Read the Current Report – October 2025

PNC’S Weekly Economic Roundup provides a clear, timely recap of key economic developments, major data releases, and market-moving trends from the past week -- along with insights and expectations for the week ahead.

View latest Weekly Economic Roundup

Economics Research Archives

Initial Unemployment Claims Remain Low but Continuing Claims Keep Rising - 12/04/2025
ISM Services Increased to 52.6 in November 2025 - 12/03/2025
Industrial Production Up Slightly in September - 12/03/2025
The ISM Manufacturing Activity Index Declined Again - 12/01/2025
Initial Unemployment Claims Remain Low but Continuous Claims Keep Rising - 11/26/2025
Beige Book: Economy Flat in October and November, with Shutdown a Drag - 11/26/2025
Producer Price Index Gained 0.3% in September 2025 - 11/25/2025
Consumer Confidence Falls Sharply in November, Even as Shutdown Ends - 11/25/2025
Weak Growth in Retail Sales in September as Fundamentals Soften - 11/25/2025
U.S. Home Prices Increased for a Second Straight Month in September - 11/25/2025

PNC Regional Economic Analysis – Kansas City, MO – 11/14/2025
PNC Regional Economic Analysis – Columbus, OH – 11/4/2025

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).

Explore Latest Findings

United States

Board of Governors of the Federal Reserve

St. Louis Federal Reserve Bank – FRED

Bureau of Economic Analysis

Bureau of the Census

Bureau of Labor Statistics

International

The World Factbook

U.S. State Department

International Trade Data – U.S. Census Bureau

Trade and Data Analysis – International Trade Administration

Foreign Governments Resources, University of Michigan

International Monetary Fund

World Bank Group

Regional

Federal Reserve Districts

Federal Reserve Board – Beige Book

State Data Center Sites

Additional Resources

American Economic Association

National Association for Business Economics

Meet Our Economists

Augustine Faucher

Senior Vice President & Chief Economist

Full Bio

Jay Hawkins

Vice President & Senior 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

View More Insights