US November construction spending data
- Prior was +1.3% (revised to +1.6%)
- Residential +17.9% y/y
- Non-residential -5.2% y/y
- Private +4.9% y/y
- Public +2.4%
This is a noisy data point but the upward revision means that the trend is still strong. I don't expect any slowdown so long as rates remain low. About 60% of US construction is residential.
