Residential construction continues to strengthen as non-residential construction may have peaked. The non-residential spending is a result of the public sector which contracted in November after a huge run for the last 18 months. Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any [...]
Construction spending growth accelerates again. This is all about non-residential construction spend which is growing at 20% yoy whereas residential spend is only growing by 1% but is at least finally a positive contributor. To be fair, the additive growth top GDP has been impressive, but it is waning. November 2022 was a big contributor and the annual growth equation [...]
Total construction spending is growing at 8.7% and that is an increase from 7.6% growth last month. Like we saw in the housing data, residential construction is improving. It now stands at -2.1% from a year ago, an improvement from the -4.4% yoy growth we saw last month. Non-residential spending is where we see an absolute boom. The reshoring story [...]
I've been reading some lately about all the housing units that are coming to market and the likely hit to house prices and rents that will accompany this supply. Looking at the housing pipeline (Units permitted but not started + Units started + Units under construction + Units completed this month), we are elevated by about 680,000 units on an [...]
Rolling over in credit stats, particularly business debt, is never a good thing for an economy. As noted yesterday, in Europe it’s not definite yet but sure is pronounced. The pattern is pretty clear even if we don’t ultimately know how it will play out from here. The process of reversing is at least already happening and so we are [...]
It is the inversion of the seventies. Four now five decades ago, the economy was caught in the grips of an inflationary condition it seemed unable to escape. It just went on and on, and while it was roaring officials up and down the spectrum assured us that they were doing their best, the only things that were able to [...]
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