US residential construction is growing solidly, but the apartment sub-segment is showing signs of softening.US construction is doing broadly fine, echoing the solidity of the US business cycle. On a y-o-y basis, construction was up 3.9% in March and 5.5% y-o-y in Q1 2018. Construction outperformed nominal GDP, which was up 4.8% y-o-y in Q1.The main engine is the residential market, up 7.8% y-o-y in Q1. Nonresidential construction is growing less rapidly (+3.8% y-o-y in Q1), dampened...
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