Transportation Economy News Updates

President Trump suggested March 5 he may end steel tariffs on Mexico and Canada if they give him better trade terms while re-negotiating the North American Free Trade Agreement.

U.S. service industries expanded in February near the fastest pace in at least a decade, signaling the economy is on track for steady growth this quarter, according to a survey from the Institute for Supply Management on March 5.

The steel tariffs that President Donald Trump plans to impose would deal a major blow to U.S. factories, according to an official with an industry group.

The next U.S. recession could drag on longer than the last one that stretched 18 months. That’s the assessment of former Treasury Secretary Larry Summers.

Americans’ sentiment remained close to a 17-year high on rosier views of personal finances and the buying climate, as workers enjoy more take-home pay after the recent tax-cut legislation, according to the weekly Bloomberg Consumer Comfort Index released March 1.

U.S. factories expanded in February at the fastest rate since May 2004, indicating sustained strength in manufacturing as demand remains solid, figures from the Institute for Supply Management showed March 1.

U.S. filings for unemployment benefits fell last week to the lowest level in almost five decades, indicating the job market remains tight, Labor Department figures showed March 1.

A gauge of contracts to purchase previously-owned U.S. homes unexpectedly declined in January to a more than three-year low, reflecting a shortage of inventories and rising mortgage rates, according to data released Feb. 28 from the National Association of Realtors in Washington.

The U.S. economy’s growth rate last quarter was revised slightly downward as inventories subtracted more than previously estimated, Commerce Department data showed Feb. 28.

U.S. consumer confidence jumped to a 17-year high as optimism about employment prospects grew and Americans began seeing additional money in their paychecks from recently enacted tax cuts, data from the New York-based Conference Board showed Feb. 27.