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%:(Click on image to enlarge)
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:(Click on image to enlarge)
The resilience in construction is an important reason why the US did not enter recesion last year, despite the anemic reports on manufacturing.More By This Author:Final COVID-19 Update For 2023: Mainly Good News The Economic Graph Of The Year For 2023Jobless Claims End The Year On A Solidly Positive Note
Construction Spending Continued To Increase In November
