Nonresidential Construction is about to take a dip
Had a nice keynote speech from an economist today. One slide, in particular, was very fascinating and I figured I'd share it here.
The idea here is that nonresidential construction is a lagging sector compared to US industrial production. USIP got hit as a result of COVID, but nonresidential construction has not yet felt the impact since it lags by about a half-year. It looks like it won't be nearly as bad as 08 since there isn't this massive spike of overbuilding that we saw back then, but a decline is still in the works.
Thoughts?