Transportation Economy News Updates

The U.S. trade deficit narrowed in March by the most in two years, while last week’s unemployment filings were below estimates and productivity gains remained lukewarm in the first quarter. Here’s what you need to know from the economic reports out the morning of May 3.

The Trump administration sought to temper expectations for a swift breakthrough on trade issues with China as a delegation of senior U.S. officials prepares to visit Beijing this week.

Very concerning. Two products eliminated. Commodity prices rising. Business planning “is at a standstill.” That’s what a few American manufacturers said they’re facing as the Trump administration weighs tariffs on imported metals and Chinese products, creating uncertainty for companies that by most other accounts are going gangbusters.

President Donald Trump said his trade actions may cause “a little pain” in the short term, and a new study shows U.S. agricultural workers could be hurt the most.

With the calendar’s turn from April to May, the U.S. economic expansion has become the nation’s second-longest on record.

A gauge of signed contracts to purchase previously owned U.S. homes rose less than forecast in March, and the prior month’s reading was revised down, indicating a lack of inventory is restraining the market, according to data released April 30 from the National Association of Realtors in Washington.

U.S. consumer spending picked up in March while the Federal Reserve’s preferred inflation gauge hit the central bank’s 2% target for the first time in a year, reinforcing the outlook for further interest-rate hikes.

U.S. economic growth cooled last quarter as consumers pulled back after outsize spending in the prior period, though solid business investment cushioned some of the weakness and employee-compensation costs accelerated amid a tight job market.

U.S. employment costs increased more than forecast in the first quarter as worker pay and benefits accelerated, according to Labor Department data released April 27.

U.S. consumer sentiment exceeded estimates in April on Americans’ increasingly favorable views of their finances, University of Michigan survey data showed April 27.