Page 30 - Market Outlook Q3 2024

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30

U.S. Economic Snapshot

NEW RESIDENTIAL CONSTRUCTION
US Residential Construction Spending
U.S. Residential Construction Spending is at a
2500 current level of $911.43 billion, down from $914.27
billion last month and up from $887.56 billion one
year ago. This is a change of -0.31% from last month
2000 and 2.69% from one year ago.

1500

1000

500

0
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Series1 Series2 Series3

Source: U.S. Census Bureau

U.S. INFLATION RATE
US Inflation Rate
10.00% U.S. Inflation Rate is at 2.44%, compared to 2.53%
last month and 3.70% last year. This is lower than the
9.00%
long-term average of 3.28%.
8.00%
7.00% The U.S. Inflation Rate is the percentage in which a
6.00% chosen basket of goods and services purchased in
the U.S. increases in price over a year. Inflation is one
5.00% of the metrics used by the U.S. Federal Reserve to
4.00% gauge the health of the economy.
3.00%
Since 2012, the Federal Reserve has targeted a 2%
2.00%
inflation rate for the U.S. economy and may make
1.00% changes to monetary policy if inflation is not within
0.00% that range.
Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec
A notable time for inflation was the early 1980’s
2024 2023 2022
during the recession. Inflation rates went as high
as 14.93%, causing the Federal Reserve to take
Source: Bureau of Labor Statistics dramatic actions.