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This is great, but the price of factory construction has risen much more than overall inflation lately. We're spending an unprecedented amount, but the amount that is actually getting built is only slightly above 2015 levels so far.
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Skanda Amarnath
@IrvingSwisher
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Further progress in the construction of manufacturing plants. Especially in the geographic regions that saw a rush of activity following the passage of the IRA / CHIPS twitter.com/IrvingSwisher/…
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My charts of mfg construction spending are all deflated by the new industrial building construction PPI (which did surge through 2021-22). So they account for cost inflation already.
This is the full lookback using the monthly inputs for construction spending and costs. We are through the 2015 highs. Your chart likely has issues due to aggregation and revision / vintage.
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David Watson πŸ₯‘
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