by Calculated Threat on 1/02/2025 10:00:00 AM
From the Census Bureau reported that total development spending elevated:
Building spending throughout November 2024 was estimated at a seasonally adjusted annual charge of $2,152.6 billion, nearly unchanged from the revised October estimate of $2,152.3 billion. The November determine is 3.0 % above the November 2023 estimate of $2,090.7 billion.
emphasis added
Non-public spending elevated and public spending decreased:
Spending on non-public development was at a seasonally adjusted annual charge of $1,650.7 billion, 0.1 % above the revised October estimate of $1,649.8 billion. …
In November, the estimated seasonally adjusted annual charge of public development spending was $501.9 billion, 0.1 % under the revised October estimate of $502.5 billion.
Click on on graph for bigger picture.
This graph reveals non-public residential and nonresidential development spending, and public spending, since 1993. Observe: nominal {dollars}, not inflation adjusted.
Residential (crimson) spending is 7.6% under the height in 2022.
Non-residential (blue) spending is 0.4% under the height in June 2024.
Public development spending is 0.2% under the height in September 2024.
The second graph reveals the year-over-year change in development spending.
On a year-over-year foundation, non-public residential development spending is up 3.1%. Non-residential spending is up 1.7% year-over-year. Public spending is up 4.6% year-over-year.
This was under consensus expectations and spending for the earlier two months was revised down.
