New Economic Data Highlights the Strength and Resilience of President Trump’s Economy

New economic data this week delivers fresh evidence of the exceptional strength and accelerating momentum of the American economy under President Donald J. Trump. America's core fundamentals are firing on all cylinders - producing tangible wins for families, workers, and businesses nationwide.

The housing market shows clear progress on supply and affordability.

• New residential construction surged last month to its highest level in more than a year, reflecting strong momentum in expanding housing supply.
• Home prices have declined on an annual basis in more than half the country, reversing years of rapid increases and improving affordability for families and first-time buyers.
• Rent growth slowed to its lowest pace since President Trump's first term, with single-family rent growth hitting a record low.
• Income growth is now outpacing rent growth nationwide, returning the typical share of income spent on rent close to pre-pandemic levels.

President Trump's pro-growth agenda is fueling a manufacturing resurgence.

• Orders for business equipment posted their largest surge in more than six years, while shipments of machinery and equipment also shattered expectations - strong signals of expanding industrial capacity.
• The Richmond Fed manufacturing survey jumped to its highest reading in years, joining similarly strong performances from the Philadelphia and New York Feds, pointing to a broad-based pickup in factory activity across the nation.

Strong consumer confidence and a robust labor market are driving continued momentum.

• Consumer confidence rose sharply in March, crushing economists' expectations as Americans grow more optimistic about business and labor market conditions.
• Personal income doubled expectations in March, rising at its fastest rate in nearly a year, while personal spending remained robust.
• U.S. economic growth accelerated in the first quarter, powered by the strongest expansion in business investment since 2023 and steady consumer demand.
• Initial jobless claims plunged last week to their lowest level since 1969, highlighting the exceptional strength of the labor market.

America is building, investing, and growing once again - because President Trump has put American jobs, American manufacturing, and American prosperity first.