Tuesday, January 2, 2024

Construction spending continued to increase in November


 - by New Deal democrat

I’m feeling a little under the weather today, so I am going to keep this brief.

Total construction spending rose 0.4% in November, while residential construction rose 1.1%:

Keep in mind that these are nominal numbers, affected by the cost of construction materials.

Typically residential construction moves in tandem with building units under construction. Here’s that comparison:

The resilience in construction is an important reason why the US did not enter recesion last year, despite the anemic reports on manufacturing.