Economists at Pittsburgh’s biggest bank weren’t surprised by the latest data that the Federal Reserve considers as it ponders further rate hikes. Economists at Pittsburgh-based PNC Financial Services Group Inc. (NYSE:PNC) anticipate a recession in the second half of 2023. It was in line with PNC’s forecast, Abbey Omodunbi, senior economist, noted in a report, as consumers shifted spending from goods to services.
Trade deficit widens, labor market remains strong: PNC economists
2023-02-13T20:51:06-05:00February 13th, 2023|