Economic reports from the federal government and some private third parties on construction spending and employment have implications for various aspects of commercial real estate, according to a report from Moody’s Analytics.

Start with construction spending, as on January 3, the Census Bureau announced that November 2022 construction activity of $1,807.5 billion was 0.2% over October’s $1,803.2 billion, which was revised downward by 0.2%. And, as these notes often say, the confidence interval around the November numbers was plus or minus 0.8%. Because the confidence interval included zero, the agency can’t tell whether there was an actual change or not.

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Erik Sherman

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