Wells Fargo Economics
New Tariffs Set to Raise Construction Costs Amid Shifting Trade Policy
The U.S. construction industry is bracing for higher costs in 2025 as newly imposed tariffs are expected to exert upward pressure on building...
Small Business Optimism Falls in March as Tariff Uncertainty Weighs on Outlook
Small business confidence in the United States continued to slide in March 2025, with the NFIB Small Business Optimism Index falling for a...
Widening Trade Gap Poised to Dent Q1 GDP Amid Import Surge and Tariff Pressures
The U.S. trade deficit narrowed modestly in February 2025 but remains historically wide, raising fresh concerns about the trajectory of first quarter GDP...
Strong Q4 Profits Mask Growing Trade Threat to U.S. Economy
The U.S. economy ended 2024 on a stronger note than initially estimated, with fourth-quarter GDP growth revised up slightly to a 2.4 percent...
Job Openings Decline in February as Labor Market Uncertainty Grows
The U.S. labor market showed signs of softening in February, as job openings declined and economic uncertainty continued to weigh on hiring decisions....
Construction Sector Sees Housing Starts Rebound in February But Underlying Challenges Persist
The residential construction sector showed signs of resilience in February as housing starts rebounded sharply following a weather-related setback in January. According to...
Retail Sales Struggle in February Amid Consumer Spending Concerns
Retail sales in the United States posted only a modest gain in February, rising just 0.2 percent, according to the latest report from...
U.S. Economy Shows Resilience, but Tariff Uncertainty Weighs on Growth Prospects
The U.S. economy began 2025 with notable momentum, but signs of a slowdown are emerging as trade policy uncertainty and inflation concerns cloud...
U.S. Construction Spending Declines in January Amid Rising Interest Rate Pressures
U.S. construction spending took a step back in January 2025, marking a 0.2 percent decline from the previous month, according to a new...
New Home Sales Drop in January as High Mortgage Rates and Weather Take a Toll
New home sales in the United States took a significant hit in January, declining 10.5 percent to a seasonally adjusted annual rate of...
Wells Fargo: Construction Spending Rises in October as Residential Gains Offset Nonresidential Declines
According to data from the U.S. Department of Commerce and Wells Fargo Economics, construction spending advanced by 0.4 percent in October. This was...
