Podcast: Understanding how monetary policy shapes SOFR

ABA economists believe the report suggests continued services sector strength and overall U.S. economic activity and growth. Continued expansion could support commercial and industrial lending, particularly among service-oriented small and midsize businesses.

New orders for manufactured goods in March increased $9.1 billion, or 1.5%, from the month before to $630.5 billion, the U.S. Census Bureau reported.

Economic activity in the manufacturing sector expanded in April for the fourth consecutive month, according to the Institute for Supply Management. The Manufacturing PMI registered 52.7% in April, unchanged from March.

The seasonally adjusted unemployment rate for college graduates with Bachelor's degrees aged 20-24 years old was 4.0% in March 2026.

The rate for a 30-year fixed-rate mortgage was 6.3% this week. The rate for a 15-year fixed-rate mortgage was 5.64%.

ABA economists believe this PCE release highlights renewed inflation concerns and increased risks of higher interest rates. For banks, higher rates could suppress commercial real estate and housing activity for businesses and consumers.