The US Court of International Trade ruled against President Trump’s latest 10% global tariffs, finding the duties were not justified under Section 122 of the Trade Act of 1974.
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US Construction Spending Rises in March
US construction spending rose 0.6% in March to a seasonally adjusted annual rate of $2,185.5 billion.
NAHB Multifamily Developer Confidence Holds Steady in Q1
NAHB reported that multifamily developer confidence was unchanged year-over-year in Q1, while the occupancy index declined 13 points.
US Mortgage Rates Increase in the Week Ending May 7
The 30-year fixed-rate mortgage averaged 6.37%, up from 6.30% the previous week, Freddie Mac reported.
US Job Cuts Expand in April but Remain Below Year-Ago Levels
US employers announced 83,387 job cuts in April, up 38% from March but down 21% from a year earlier, CG&C reported.
US Weekly Initial Jobless Claims Increase in the Week Ending May 2
The advance figure for seasonally adjusted initial unemployment claims was 200,000, up 10,000 from the previous week.
State-Level Construction Employment Data for March
The construction industry added a net 26,000 jobs in March, the BLS and NAHB reported.
US Mortgage Applications Fall in the Week Ending May 1
Mortgage loan application volume decreased 4.4% on a seasonally adjusted basis from one week earlier, MBA reported.
US National Median Rent Ticks Higher in April
The national median rent rose 0.5% in April to $1,370, although rents remained down 1.7% year-over-year, Apartment List reported.
ADP: Private Sector Employment and Compensation Increase in April
Private sector employment increased by 109,000 in April, while annual pay rose 4.4%, ADP reported.