PITTSBURGH — Pittsburgh’s biggest bank issued its July national economic outlook on Wednesday, noting that activity has picked up from the April low point but still lags the pre-pandemic level in February.
PNC Financial Services Group Inc. said that while consumer spending, home building, home sales, industrial production and jobs all rose during the past couple months, “increasing cases of coronavirus in recent weeks could become a drag on the economy.”
Put another way, recovery from the Viral Recession is underway but its strength is uncertain.
Read more in the Pittsburgh Business Times.
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