– 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 recession last year, despite the anemic reports on manufacturing.