Page 30 - Market Outlook Q2 2024

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U.S. Economic Snapshot

NEW RESIDENTIAL CONSTRUCTION
US Residential Construction Spending
U.S. Residential Construction Spending is at a
2500 current level of $902.29 billion, up from $901.44
billion last month and up from $834.71 billion one
year ago. This is a change of 0.09% from last month
2000 and 8.10% 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 3.27%, compared to 3.36%
9.00% last month and 4.05% last year. This is lower than the
8.00% long term average of 3.28%.
7.00%
The U.S. Inflation Rate is the percentage in which a
6.00% chosen basket of goods and services purchased in
5.00% the US increases in price over a year. Inflation is one
4.00% of the metrics used by the US Federal Reserve to
gauge the health of the economy.
3.00%
2.00%
Since 2012, the Federal Reserve has targeted a 2%
1.00% inflation rate for the U.S. economy and may make
0.00% changes to monetary policy if inflation is not within
Jan Feb Mar Apr May Jun July Jul Aug Sept Oct Nov Dec that range.
2024 2023 2022
A notable time for inflation was the early 1980’s
during the recession. Inflation rates went as high
Source: Bureau of Labor Statistics as 14.93%, causing the Federal Reserve to take
dramatic actions.