Trump suspended the 25% tariffs he imposed earlier this week on most goods from Canada and Mexico until April 2, Reuters reported.
News in end use
US Pending Home Sales Fall 6.4% Year-Over-Year in February
Pending home sales fell 6.4% year-over-year in the four-week period ending March 2, Redfin reported.
US Mortgage Rates Continue to Decline in the Week Ending March 6
The 30-year fixed-rate mortgage averaged 6.63%, down from last week when it averaged 6.76%, Freddie Mac reported.
US Private Sector Job Cuts Soar in February
US-based employers announced 172,017 job cuts in February, the highest total for the month since 2009, CG&C reported.
US Weekly Initial Jobless Claims Decline in the Week Ending March 1
The advance figure for seasonally adjusted initial unemployment claims was 221,000, a decrease of 21,000 from the previous week’s unrevised total.
Mortgage Applications Increase in the Week Ending February 28
Mortgage loan application volume increased 20.4% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP Reports Private Sector Employment and Compensation Both Increased in February
Private sector employment increased by 77,000 jobs in February, and annual compensation was up 4.7% year-over-year, ADP reported.
US Single-Family Construction Ends 2024 With Growth, While Multifamily Declines
The continued shortage of existing homes for sale has helped to keep new single-family construction growing across all regions, NAHB reported.
President Trump Confirms 25% Tariffs on Canadian and Mexican Imports Start March 4
Trump said on Monday that 25% tariffs on imports from Mexico and Canada would start Tuesday, March 4, the AP reported.
US Construction Spending Slips 0.2% in January
Total construction spending during January was at a seasonally adjusted annual rate of $2,192.5 billion, 0.2% below December.