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<\/p>\nNew economic data this week delivers fresh evidence of the exceptional strength and accelerating momentum of the American economy under President Donald J. Trump. America\u2019s core fundamentals are firing on all cylinders \u2014 producing tangible wins for families, workers, and businesses nationwide.<\/p>\n
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The housing market shows clear progress on supply and affordability.<\/p>\n
New residential construction surged<\/a> last month to its highest level in more than a year, reflecting strong momentum in expanding housing supply.<\/p>\n Home prices have declined<\/a> on an annual basis in more than half the country, reversing years of rapid increases and improving affordability for families and first-time buyers.<\/p>\n Rent growth slowed<\/a> to its lowest pace since President Trump\u2019s first term, with single-family rent growth hitting a record low.<\/p>\n Income growth is now outpacing<\/a> rent growth nationwide, returning<\/a> the typical share of income spent on rent close to pre-pandemic levels.<\/p>\n President Trump\u2019s pro-growth agenda is fueling a manufacturing resurgence.<\/p>\n Orders for business equipment posted<\/a> their largest surge in more than six years, while shipments of machinery and equipment also shattered<\/a> expectations<\/a> \u2014 strong signals of expanding industrial capacity.<\/p>\n The Richmond Fed manufacturing survey jumped<\/a> to its highest reading in years, joining similarly strong performances from the Philadelphia<\/a> and New York<\/a> Feds, pointing to a broad-based pickup in factory activity across the nation.<\/p>\n Strong consumer confidence and a robust labor market are driving continued momentum.<\/p>\n Consumer confidence rose<\/a> sharply in March, crushing economists\u2019 expectations as Americans grow more optimistic about business and labor market conditions.<\/p>\n Personal income doubled<\/a> expectations in March, rising at its fastest rate in nearly a year, while personal spending remained robust.<\/p>\n U.S. economic growth accelerated<\/a> in the first quarter, powered by the strongest expansion in business investment since 2023 and steady consumer demand.<\/p>\n