Michael: Can't get back to the 1950s with data I'm familiar with, but Census Construction Spending extends to 1964. Here's 1964Q1-2024Q1 in 2023 dollars. Quarterly values are the sum of NSA monthly values. Data - Table 3: www.census.gov/construction... Monthly, NSA Total: www.census.gov/construction...

Companies decided to sink billions of dollars of new investment into manufacturing plants in the U.S. after the CHIPS and Inflation Reduction Act boosted incentives for U.S. production, Check out that spike in manufacturing plant construction. It dwarfs all prior increases. 📉📈 #️⃣#️⃣

I wonder if that spike rivals the investment of post WWII-1960 period. Is it possible to extend the x-axis?

Good question but not with this data series.

👍

Can't get back to the 1950s with data I'm familiar with, but Census Construction Spending extends to 1964. Here's 1964Q1-2024Q1 in 2023 dollars. Quarterly values are the sum of NSA monthly values. Data - Table 3: www.census.gov/construction... Monthly, NSA Total: www.census.gov/construction...

Actually - complete brain fart there. The BEA Fixed Asset data goes back decades earlier. One moment...

Okay, 1901-2022, Private Fixed Investment in Manufacturing Structures. BEA Fixed Assets Accounts, Table 2.7, line 48. Deflated with a splice of the CPI and Index of the General Price Level.

Relies on a simple splice of Index of the General Price Level and CPI. Both first re-based to 1937=100, then averaged for their overlap period of 1913-1939. After combination, the spliced series was re-based to 2023=100. fred.stlouisfed.org/graph/?g=1pN07

Consumer Price Index for All Urban Consumers: All Items in U.S. City Average/14.383*100 | FRED | St. Louis Fedfred.stlouisfed.org Graph and download economic data for Consumer Price Index for All Urban Consumers: All Items in U.S. City Average/14.383*100 from 1860 to 2024 about all items, urban, consumer, CPI, inflation, price i...

2018 blip so smol.

Wow, I am impressed by the investments this admin has made. Looking longitudinally, it’s even more impressive.

Yeah quarterly real to 1947, annual real to 1929 🤝🤝

Nominal to 1901, and some shenanigans with the NBER Macrohistory Database helps bring that to real values.

Nice!!!

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