by Calculated Danger on 5/01/2024 02:57:00 PM
From the Census Bureau reported that total development spending elevated:
Development spending throughout March 2024 was estimated at a seasonally adjusted annual fee of $2,083.9 billion, 0.2 % under the revised February estimate of $2,087.8 billion. The March determine is 9.6 % above the March 2023 estimate of $1,901.4 billion.
emphasis added
Non-public spending decreased and public spending elevated:
Spending on non-public development was at a seasonally adjusted annual fee of $1,600.8 billion, 0.5 % under the revised February estimate of $1,608.5 billion. …
In March, the estimated seasonally adjusted annual fee of public development spending was $483.1 billion, 0.8 % above the revised February estimate of $479.3 billion
Click on on graph for bigger picture.
This graph exhibits non-public residential and nonresidential development spending, and public spending, since 1993. Notice: nominal {dollars}, not inflation adjusted.
Residential (purple) spending is 8.8% under the latest peak in 2022.
Non-residential (blue) spending is 1.1% under the height two months in the past.
Public development spending is 1.1% under the height three months in the past.
The second graph exhibits the year-over-year change in development spending.
On a year-over-year foundation, non-public residential development spending is up 4.4%. Non-residential spending is up 11.1% year-over-year. Public spending is up 17.9% year-over-year.
This was under consensus expectations for 0.3% enhance in spending, and complete development spending for the earlier two months was revised down. That is most likely simply the beginning of weak point for personal non-residential development.
