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- ÉclairageInfrastructure
Each yearly fall in housing starts has been smaller than the one before it
The starts rate has declined in four consecutive observations, but the declines are shrinking: 0.05, then 0.13, then 0.05, then 0.01. The last of those is one unit in the final published digit, which means the series has stopped moving at a level below where it began in 2020.
- ÉclairageMacroeconomics & Markets
The low point of this vehicle sales window is 2022, not 2020
The annual rate ran 14.9 million units in 2020, rose to 15.4 in 2021, then fell to 14.2 in 2022, the lowest of the six readings. Three quarters of the recovery since arrived in a single step, and the two years after it added 0.3 million units each.
- ÉclairageInfrastructure
Nonresidential construction spending rose 14 billion in 2025 after 450 in three years
The annual rate stands at 1,309 billion dollars, the highest of six readings, and the step that brought it there is the smallest rise in the series. Spending on manufacturing plant fell 29 billion in the same year, so a total that barely moved sits on top of a 43-billion rise in everything else.
- ÉclairageInfrastructure
The ten-year yield has risen in every year since 2020
Six annual observations, five changes, and not one of them negative. In the year the overnight policy rate fell 0.93 points, the ten-year rose again.