The strength of the economic recovery pushed this past quarter’s national Citizens Business Conditions Index (CBCI) to 57, its highest reading in three years and up five points compared to last year. A reading above 50 is considered expansionary.
The September Credit Managers’ Index from the National Association of Credit Management fell by a half a point from the August index, marking the first decline since April. However, the CMI is still trending positively in expansion territory
The PNC Financial Services Group, Inc. (NYSE: PNC) announced that it received approval from the Federal Reserve today to repurchase up to an additional $900 million in common shares through the end of the second quarter of 2019.