Heterodox
– by New Deal democrat This morning, I pointed out that manufacturing production is -1.8% below its 2022 high and may be in a slightly declining trend. Which means that added attention has to be paid to whether the other leading production sector, construction, is holding up. Instead, this morning brought the first sustained evidence that housing units under construction, the “real” economic measure of the residential building sector, which...
Read More »April housing: Uh-oh, housing units under construction has stopped levitating
