After slipping in September, seasonally adjusted construction spending regained its upward movement in October. October total construction spending came in at a $2.175 trillion rate, up 0.5% from September but down 1.0% compared to October 2024.
After slipping in September, seasonally adjusted construction spending regained its upward movement in October. October total construction spending came in at a $2.175 trillion rate, up 0.5% from September but down 1.0% compared to October 2024.
Sales of existing homes increased again in December, now up for the fourth consecutive month. Existing home sales came in at a 4.350 million unit rate, up 5.1% from November and were up 1.4% compared to the 4.290 million unit rate last December.
U.S. light vehicle sales saw a slight increase in December but were below year-ago levels for the third straight month. December light vehicle sales came in at a 15.9 million unit rate, up from the 15.8 million unit rate in November but down from the 16.9 million unit rate last December.
In the middle of the week, Nucor announced a minimum base price increase for galvanized steel products. The new minimum base price is now $1,050/ton ($52.50/cwt) for all producing mills, except CSI, where the minimum base price will be $1,100/ton ($55/cwt). Nucor cited modest inventory levels for galvanized steel products in the supply chain, increased production costs, as well as resilient demand – demand that is expected to strengthen with continued reshoring of manufacturing in 2026.
In the middle of the week, Nucor announced a minimum base price increase for galvanized steel products. The new minimum base price is now $1,050/ton ($52.50/cwt) for all producing mills, except CSI, where the minimum base price will be $1,100/ton ($55/cwt). Nucor cited modest inventory levels for galvanized steel products in the supply chain, increased production costs, as well as resilient demand – demand that is expected to strengthen with continued reshoring of manufacturing in 2026.
Industrial production increased slightly in September, climbing 0.1% after a 0.3% drop in August.
August total construction spending came in at a $2.169 trillion rate, the third consecutive monthly increase. While total spending was up 0.2% compared to July, spending was down 1.6% compared to last August. Spending has now declined on a year-over-year basis for seven consecutive months.
