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Correction:
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
3 comments:
I gotta say, as far as third peaks go, that latest one seems kind of puny.
It's like WTC ?7?. Certainly not newsworthy!
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.
Put another way, "maybe" they can't.
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