Residential Gains Offset Nonresidential Decline in November 2024 Construction Trends

Wells Fargo’s latest economic commentary highlights a flat trajectory for construction spending in November 2024. While residential construction posted slight gains, these were counterbalanced by a decline in nonresidential outlays, emphasizing the persistent impact of elevated interest rates and restrictive credit conditions. Residential construction edged up 0.1 percent in November, marking its third gain in […]