Large Purchases Surged In March
In March, companies rushed to place durable goods orders, which surged 9.2%, to get ahead of President Trump’s planned tariffs on U.S. imports. Transportation equipment orders led the increase, especially with a 139% jump in nondefense aircraft and parts. Despite the spike in orders, the Federal Reserve’s Beige Book noted that businesses remained wary about long-term economic conditions due to tariff concerns.
Meanwhile, jobless claims rose slightly to 222,000 but remained stable overall, with continuing claims dropping to 1.84 million.
Housing Market Slows Amid High Rates and Economic Uncertainty
Higher mortgage rates and economic worries caused March home sales to fall 5.9% from February, marking the slowest March pace since 2009. Despite a nearly 20% rise in inventory, affordability challenges kept buyers hesitant, and prices rose just 2.7% year over year, the smallest gain since August. First-time buyers remained at 32% of the market, while cash sales dropped slightly and investor activity stayed steady.
Economists warn that canceled contracts and consumer anxiety could worsen the housing market slowdown in the coming months.
Trump Pushes Deep-Sea Mining, Sparking Global Backlash
President Trump signed an executive order to fast-track deep-sea mining for critical minerals, aiming to counter China’s dominance in the sector. The move directs expedited permitting under U.S. law and encourages mining beyond national waters, despite environmental and international concerns.
Critics argue this action undermines global efforts to regulate deep-sea mining and could increase geopolitical tensions. Environmental groups and several countries have condemned the move, warning of potential ecosystem destruction and diplomatic fallout.
