Economic Outlook Luncheon 2023

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Join us for lunch with Eller’s George Hammond and Gus Faucher, chief economist at PNC Bank, as they offer analysis and insights on what to expect for the global, state, and local economies in the future.

The Arizona economy has continued to churn out solid gains so far in 2023. Jobs, wages, and sales all increased, although at a somewhat slower pace than earlier in the pandemic recovery. The labor market remains very tight, with some small signs of loosening. Phoenix inflation has decelerated to the national rate, thanks to slower gains in house prices, but housing affordability remains well below pre-pandemic levels.

Where are the global, national, state, and local economies headed next? Is the Fed done raising interest rates and can it succeed in bringing inflation down without causing a recession? Will state and local house prices moderate or continue to hit new highs? Will rising unemployment put downward pressure on wages? How will construction activity fare with low housing affordability?

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About PNC Bank: PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit

About the University of Arizona Eller College of Management: Home to 5,800 undergraduate and 750 graduate students, the University of Arizona Eller College of Management is a comprehensive business school with a global reputation for innovative research, rigorous curriculum, a distinguished faculty, excellence in entrepreneurship and social responsibility. The College’s mission is to support and develop a community of scholars and learners whose knowledge, integrity and entrepreneurial spirit will transform business and society. For more, visit