EDG News

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U.S. construction materials prices climbed again in March, as building industry groups warned of soaring costs and potential project cancellations resulting from the Trump administration’s trade tariff escalation.

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The latest tracking in a closely watched national survey by the University of Michigan showed further deterioration in consumer confidence, stemming from trade tariffs and expectations for higher inflation.

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Consumers’ year-ahead expectations for business and labor market conditions fell to a nearly 14-year-low in the latest monthly survey by the Conference Board, another indicator of rising apprehension about inflation and other potential effects of trade tariffs.

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Nationwide unit sales of existing single-family homes declined 5.9% in March from the prior month and also fell 2.4% from a year earlier, as the median sale price posted a 2.7% annual increase to $403,700, the National Association of Realtors reported Thursday.

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Financial markets breathed a sigh of relief Wednesday as President Donald Trump said currently high tariffs on goods imported from China would not stay that way forever. Trump also backed off on statements of the recent week indicating he wanted to fire Jerome Powell if the Federal Reserve chairman wouldn’t lower interest rates immediately.

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McDonald’s reported same-store U.S. sales dropped 3.6% from a year earlier in its latest quarter, marking the largest decline since the pandemic-blighted second quarter of 2020 for the world’s largest restaurant chain and a potential sign of consumer wariness amid economic uncertainties.

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Despite economic volatility, U.S. retail spending on Mother’s Day, May 11, is expected to reach $34.1 billion this year, according to the National Retail Federation and data firm Prosper Insights & Analytics. That would top last year’s $33.5 billion and follow close behind the record $35.7 billion posted in 2023, researchers said in a Monday report from the trade group.

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U.S. retail sales increased in March despite rising worries among consumers about the effects of tariffs on employment and inflation.

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Electric car manufacturer's business affected by uncertainty tied to tariffs

Tesla CEO Elon Musk promised investors he will devote more time to the maker of electric cars and trucks after profits tumbled 71% in the first quarter, a period when the billionaire split time between Tesla and working with President Donald Trump on government on cost-cutting measures

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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President Donald Trump said he is exploring possible exemptions from his 25% tariffs on the auto industry to give carmakers more time to set up U.S. manufacturing.

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President Trump increased pressure on Federal Reserve Chairman Jerome Powell to lower interest rates, though some analysts warned that White House attempts to fire the Fed leader could significantly hurt already volatile financial markets.