In December 2024, U.S. single-family construction increased to a 10-month high, pointing to some improvement at the end of the year. On the non-residential side, a slight increase was observed, attributable to higher spending in the manufacturing and power industries.
Private residential output up 1.5% m-o-m (6% y-o-y) in December; Building permits down -0.7% m-o-m (-3.1% y-o-y) in December.
Private non-residential output up 0.1% m-o-m (2.3% y-o-y) in December. Architecture Billings Index (ABI) down to 44.1 in December from 49.6 in November (< 50, contraction).