- Prior was +0.4% (revised to +0.5%)
- Construction spending at $2.152T annual rate, unchanged from October
- Private construction +0.1% m/m to $1.651T
- Public construction -0.1% m/m to $501.9B
- YoY growth +3.0% vs +6.5% prior
Segments:
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- Residential: +0.1% m/m, up 3.1% y/y
- Nonresidential: flat m/m, +2.8% y/y
- Manufacturing: -0.2% m/m but still strong at +11.3% y/y
Construction spending holding steady but losing momentum compared to earlier in 2024. If I had a wish for the US in 2025, it would be rules to make construction easier and move more-quickly. The contrast with China is stark and depressing.
This article was written by Adam Button at www.forexlive.com.
