News in end use

The total monthly value of building permits in Canada decreased 3.9% month-over-month to $10.9 billion (CAD) in November.

The Mortgage Bankers Association Mortgage Credit Availability Index (MCAI) decreased 4.6% to a reading of 92.1 in December.

In November, total consumer credit outstanding reached a seasonally adjust annual rate (SAAR) of $5.00 trillion for the first time, the Fed and NAHB reported.

The National Federation of Independent Business Small Business Optimism Index increased 1.3 points to a reading of 91.9 in December.

The Fannie Mae Home Purchase Sentiment Index® increased 2.9 points in December to a reading of 67.2. Year-over-year, the full HPSI was up 6.2 points.

In November, construction sector jobs—including both residential and nonresidential—increased month-over-month in 27 states and declined in 20 states and the District of Columbia, NAHB reported.

The median US asking rent fell 0.8% year-over-year to $1,964 in December, Redfin reported. Month-over-month, rents were 0.2% lower.

Overall employment in the construction sector increased by 17,000 in December, following an increase of 6,000 in November, according to BLS and NAHB.

Total nonfarm payroll employment increased by 216,000 in December. Payroll employment increased by 2.7 million in 2023, an average monthly gain of 225,000.

Canadian employment was little changed in December. This follows an increase of 25,000, or 0.1%, in November.