Trading Secrets

US construction spending slips in March, manufacturing slump deepens in April amid tariff headwinds

US construction spending unexpectedly declined in March, and the country’s manufacturing sector continued its downward slide in April, as rising tariffs and high borrowing costs put pressure on builders and factory output.

The data points to growing concerns about the strength of the US economy amid persistent inflationary pressures and trade tensions.

According to the US Commerce Department’s Census Bureau, construction spending fell by 0.5% in March, reversing the 0.6% gain recorded in February (revised from an earlier estimate of 0.7%).

Economists had expected a modest 0.2% rise, making the drop a surprise for markets.