In every month of the past twelve months, public spending on construction increased. This has never happened before in this dataset, and it is double the next-longest period of continuous increase.
What a great GDP print. 8.5% nominal growth, and 4.9% inflation-adjusted on the first revision.
Rather than careening from disaster to disaster, we might just be having an economy for the time being. The pandemic showed clear deficiencies in capacity and capabilities across a range of sectors, most of which are taking steps to address those deficiencies now.
PPIs point to stabilization on the supply side.
