Sentiment among American homebuilders deteriorated to an eight-month low in July on concerns about higher material costs, according to July 18 data from the National Association of Home Builders/Wells Fargo.

Almost six months into Donald Trump’s presidency, Americans are feeling fairly optimistic about their jobs, the strength of the U.S. economy and their own fortunes. That should be welcome news for the president, except for one thing: The public’s confidence largely appears to be in spite of Trump, not because of him.

ATA Chief Economist Bob Costello talks with TT's Daniel Bearth about the shifting business climate for trucking, part of our July 12 LiveOnWeb program on the 2017 Top 100 For-Hire Carrier rankings. (Joseph Terry/Transport Topics)

Economic growth in recent weeks ranged from “slight to moderate” across the U.S. central bank’s regional districts as wages and inflation remained generally subdued, a Federal Reserve survey showed.

Americans’ perceptions about the economy took a big step back last week even as their views about their own finances and the buying climate stabilized, Bloomberg Consumer Comfort Index figures showed June 6.

The tepid pace of U.S. consumer spending in May was nevertheless enough to keep the economy on track for a rebound in the second quarter, helped by income gains.

The narrower U.S. merchandise trade deficit and increases in inventories may boost analysts’ tracking estimates of economic growth this quarter.

Commerce Department data showed an unexpected decline in U.S. orders for business equipment.