EDG News

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A federal appeals court has temporarily paused enforcement of a trade court's ruling that struck down global reciprocal tariffs imposed by President Donald Trump’s administration. White House officials said the government may seek permanent relief from the Supreme Court.

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April’s construction employment increased from a year earlier in more than half of the nation’s metropolitan regions, but contractors face lingering challenges finding qualified workers and dealing with economic uncertainties affecting material costs.

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April’s total U.S. construction spending slid 0.4% from the prior month, with declines reported for both residential and nonresidential projects, according to the latest Commerce Department figures. The latest number for total spending was also 0.5% lower than a year earlier at a time of uncertainty for builders related to financing and material costs.

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April’s overall consumer spending increased by a slight 0.2% — or $47.8 billion — from the prior month, according to the latest Commerce Department figures. Personal income rose 0.8% for the month.

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Real estate groups were among business organizations lauding provisions of a sweeping tax bill passed early Thursday by the U.S. House of Representatives by a slim 215-214 vote and sent to the Senate. But at least one builder organization cautioned against the bill’s proposed early termination of certain clean-energy tax credits.

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U.S. residential construction starts rose 1.6% in April from the prior month, though the latest data showed new building permits declined 4.7% at a time of widespread uncertainty among builders and potential buyers.

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U.S. consumer inflation reached an annual rate of 2.3% in April, down from 2.4% in the prior month and the lowest level since February 2021, according to the latest Labor Department data. Analysts remained concerned about potential future effects of trade tariffs on consumer prices, as the Federal Reserve seeks assurance that inflation remains on track to reach its target of 2% before it gets back to reducing interest rates.

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Tech giant Microsoft added more than 300 to its previously announced workforce reductions, even as the larger economy showed signs of improvement regarding job openings.

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April’s U.S. sales of newly built single-family homes rose by a better-than-expected 10.9% from the prior month and increased 3.3% from a year earlier, providing some positive news to builders after earlier reports showed flattening sales for existing single-family homes.

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April’s U.S. retail sales edged up 0.1% from the prior month but increased 5.2% from a year earlier, as food services and motor vehicles posted some of the biggest gains in a climate of tariff-related uncertainty.

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Retailer Target blamed tariff uncertainty and falling consumer confidence among other factors as the operator of nearly 2,000 stores reported a 3.8% annual drop in same-store sales and a nearly 3% decline in total sales for its latest quarter.

Along with KDOT receiving top honors for Longmeadow Parkway from APWA Chicago Metro Chapter, Thomas Rickert, KDOT’s Deputy Director and Chief of Staff, was recently awarded the 2025 APWA Professional Manager of the Year –Administrative Management for his service to Kane County and the broader Chicagoland metro area as evidenced by 37 years of leadership for Kane County, the Kane Kendall Council of Mayors as Executive Director, APWA, and CMAP serving on regional committees.

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A rise in U.S. Treasury bond yields, after Moody’s downgraded the nation’s credit rating, added to a string of events upsetting financial markets at a time of rising uncertainty about the economy stirred largely by trade tariff and inflation worries.

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U.S. consumer confidence posted an unexpected rebound in the latest May survey by the Conference Board, after a surge in pessimism over potential tariff-related inflation in the economic research group’s April survey.

US reduces China tariffs; Data center demand escalates; Consumer credit access slows

Stock markets and business leaders were cheered Monday after the White House announced an agreement pausing certain U.S.-imposed trade tariffs on China for 90 days. Talks were slated to continue as the U.S. tentatively agreed to reduce its tariff on imported Chinese goods from 145% to 30%, as China scales back its fee on U.S. goods from 125% to 10%.