In November, Europe's loans to non-financial corporations remained unchanged at 0.0%, stabilizing from a previous decline of 0.3%. Concurrently, the M3 Money Supply in Europe saw a smaller-than-expected contraction of 0.9% year-over-year, against forecasts of a 1.0% decline and matching the previous month's reduction of 1.0%. In the United States, construction spending in November experienced a slight increase of 0.4%, falling short of the anticipated 0.5% growth and decelerating from the previous month's more robust 1.2% rise. Notably, manufacturing construction spending in the U.S. reached new heights, with computer and electronics manufacturing construction nearing an annualized pace of $116 billion, largely driven by semiconductor fabricator construction following the enactment of the CHIPS Act.
β οΈ US CONSTRUCTION SPENDING RISES LESS THAN EXPECTED IN NOVEMBER U.S. construction spending rose less than expected in November amid a decline in outlays on public projects, but data for the prior month was revised sharply higher suggesting underlying strength in the sector.β¦
Construction Spending Increased 0.4% in November https://t.co/ypmP5MuMjW https://t.co/A77KxK90us
New US construction data out this morningβand another record high for manufacturing construction spending! Computer/electronics manufacturing construction approached a $116B annualized pace, mostly thanks to semiconductor fabricator construction in the wake of the CHIPS Act https://t.co/zDlkov6bRi
US NOV. CONSTRUCTION SPENDING RISES 0.4% M/M; EST. +0.6%
π΄ US CONSTRUCTION SPENDING MOM NOVEMBER REPORT https://t.co/H4LFLbLGTj
π΄ US CONSTRUCTION SPENDING MOM ACTUAL 0.4% (FORECAST 0.5%, PREVIOUS 0.6%) $MACRO
πΊπΈ United States Construction Spending (MoM) (Nov) $USD Actual: 0.4% π΄ Expected: 0.5% Previous: 1.2%
πͺπΊ Europe Loans to Non Financial Corporations (Nov) $EUR Actual: 0.0% Previous: -0.3%
πͺπΊ Europe M3 Money Supply (YoY) (Nov) $EUR Actual: -0.9% π’ Expected: -1.0% Previous: -1.0%