Tuesday, December 3, 2013

Once, Twice, Three Times a Maybe (Musical Tribute)

The following chart shows real annualized private office construction spending per capita (October 2013 dollars).

Click to enlarge.


I originally posted that this was real monthly private construction spending per capita. The data is monthly but it is a seasonally adjusted annual rate. The chart remains the same, only the description changes.

Source Data:
St. Louis Fed: Custom Chart


WTC ?7? said...

I gotta say, as far as third peaks go, that latest one seems kind of puny.

It's like WTC ?7?. Certainly not newsworthy!

Stagflationary Mark said...

I agree that it is very puny. That's what's newsworthy to me.

The Fed, even with 5 full years of ZIRP, hasn't managed to reinflate the office construction spending bubble again.

Stagflationary Mark said...

Put another way, "maybe" they can't.