– by New Deal democrat While we are waiting for new economic data tomorrow, let me pick up on an issue I closed with yesterday: while manufacturing has turned down, goods production in the US economy is being held up by construction, and in particular residential construction. Given the severe hike in mortgage rates as well […]

– by New Deal democrat The final data point from last week that I wanted to catch up on was construction spending, and especially residential construction and spending. As reported last week, in June total nominal spending declined -0.3% in June, but is higher 6.2% YoY. The more leading residential sector also showed a -0.4% […]

2023 data begins with another lesson: the remedy for high prices is – high prices  – by New Deal democrat And so, another year begins. And kicks off with a look at the leading housing sector. And furthermore, there is even some good news. Total construction spending in November rose 0.2% for the month, while the […]