US Construction Spending Stagnates in November Amid Divergent Housing Trends
Jan 2, 2025

US Construction Spending Stagnates in November Amid Divergent Housing Trends

In a recent report by Reuters, it was highlighted that U.S. construction spending remained flat in November, presenting a mixed picture of housing sector dynamics. The complete article is accessible here. The data from the Commerce Department's Census Bureau showed no change in overall construction spending for the month, despite an earlier estimate of a 0.3% gain projected by economists surveyed by Reuters.

The shift in construction spending patterns was prominently influenced by a modest 0.3% increase in single-family homebuilding, which was largely counterbalanced by a 1.3% decline in multi-family housing project expenditures. According to IndexBox, this stagnation aligns with broader trends in the U.S. residential construction market, where investment in new single-family homes has seen tepid growth in contrast to the volatility experienced in the multi-family segment.

Private construction projects experienced a slight 0.1% rise, continuing the momentum from a 0.6% increase in October. However, public construction spending faced a downward trajectory with a 0.1% contraction, mirroring the broader economic concerns around federal and state expenditure.

Economists point to several potential factors that could shape the trajectory of construction spending in the coming months. Rising mortgage rates and potential policy shifts under the incoming administration have sparked uncertainty in the sector. Moreover, according to forecasts, the Federal Reserve's monetary policy outlook—with fewer anticipated rate cuts—suggests continued pressure on borrowing costs.

Source: IndexBox Market Intelligence Platform

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  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

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  3. 3. MARKET OVERVIEW

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  12. LIST OF TABLES

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    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
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  13. LIST OF FIGURES

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    3. Consumption, By Country, 2024
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    6. Products: Market Size And Growth, By Type
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    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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