Total construction activity for December 2025 ($2,168.8 billion) was 0.3 percent (+/-0.5 percent)* above November 2025 ($2,163.1 billion).

December 2025: +0.3* % Change
November 2025 (r): -0.2* % Change

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December 2025 sales of merchant wholesalers were $722.1 billion, up 1.0 percent (+/- 0.4 percent) from last month. End-of-month inventories were $918.0 billion, up 0.2 percent (+/- 0.4 percent)* from last month.

December 2025: +0.2* % Change in Inventories
November 2025 (r): +0.2* % Change in Inventories

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New orders for manufactured goods in December, down two of the last three months, decreased $4.3 billion or 0.7 percent to $617.5 billion.

December 2025: -0.7° % Change
November 2025 (r): +2.7° % Change

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Sales of new single-family houses in December 2025 were at a seasonally adjusted annual rate of 745,000. This is 1.7 percent (+/- 14.5%)* below the revised November 2025 estimate of 758,000.

December 2025: -1.7* % Change
November 2025 (r): +15.5* % Change

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Advance U.S. selected services total revenue for the fourth quarter of 2025, adjusted for seasonal variation but not for price changes, was $6,159.4 billion, an increase of 0.8 percent (+/- 0.2 percent) from the third quarter of 2025 and up 6.6 percent (+/- 0.4 percent) from the fourth quarter of 2024.

4th Qtr 2025: +0.8 % Change
3rd Qtr 2025 (r): +2.4 % Change

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The nation's international trade deficit in goods and services increased to $70.3 billion in December from $53.0 billion in November (revised), as exports decreased and imports increased.

December 2025: 32.6° % Change
November 2025 (r): 84.5° % Change

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December end-of-month inventories were $917.2 billion, up 0.2 percent (+/- 0.4 percent)* from last month.

December 2025: +0.2* % Change in Inventories
November 2025 (r): +0.2* % Change in Inventories

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The advance international trade deficit in goods increased to $98.5 billion in December from $82.8 billion in November as exports decreased and imports increased.

December 2025: 19.0° % Change
November 2025: 42.9° % Change

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December 2025 end-of-month inventories were $812.5 billion, virtually unchanged (+/- 0.2%)* from last month.

December 2025: 0.0* % Change in Inventories
November 2025 (r): -0.5 % Change in Inventories

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New orders for manufactured durable goods in December, down two of the last three months, decreased $4.6 billion or 1.4 percent to $319.6 billion.

December 2025: -1.4° % Change
November 2025 (r): +5.4° % Change

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Privately-owned housing starts in December 2025 were at a seasonally adjusted annual rate of 1,404,000. This is 6.2 percent (+/- 10.7%)* above the revised November 2025 estimate of 1,322,000.

December 2025: +6.2* % Change
November 2025 (r): +3.9* % Change

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Total U.S. Business Applications were 532,319 in January 2026, up 7.2% from December 2025.

January 2026: +7.2° % Change
December 2025 (r): -7.5° % Change

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