U.S. construction spending continues to increase per the U.S. Census Bureau’s monthly report. Spending was $2,071.10 billion vs. $2,014.7 October 2023 vs. October 2022. Spending was up 10% year over year. Here’s some additional excellent analysis on the recent construction spending from Trading Economics.
If we were in a recession, this growth rate would slow significantly and go negative. We aren’t there yet.