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Annual spending on US data center construction reached a record $96.5B in September, up 90% in a year. That’s ~2.1x the rate for office construction. Over the same period, US private construction overall fell ~4%.
Source: Social Capital (X)
Real disposable income per capita is one of the best summary measures for the pace of improvement in average U.S. "affordability." It captures increases in income and adjusts for increases in prices. It also reflects income tax cuts or increases.
The graph shows that the annual rate of change in Real Disposable Income per capita has been anemic since January 2025, and particularly since April of that year, when Trump launched his unpredictable, disruptive, capricious trade war --to raise U.S. consumers' cost of living and raise U.S. manufacturers' costs of production.
Since December 2024, all of America's net new payroll jobs have gone to women. Health care and social assistance added about 1 million jobs from December 2024 to August 2026, the latest month with figures by gender. About three in four of those new jobs went to women.
Outside that one sector, both women and men lost jobs, with men losing more than women.
So the jobs are growing where people care for other people, and women hold about four in five of those jobs. Similar patterns in other OECD countries.
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The European gas benchmark extends its rally into critical pre-winter delivery periods as structural storage deficits materialize.
Gnosly Live Signals | AI is getting cheaper
At a given level of performance, cost has fallen ~47%/quarter since 2023.