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      "text": "Index: 1993 = 100; Dot-Com Bubble (8 months); Great Financial Crisis (18 months); COVID-19 (2 months); Jun 1998: ~$217B transportation bill; Feb 2009: ~$48B1 ARRA bill; Nov 2021: ~$1.2T infrastructure bill; Within Residential High Beta: Single-family, remodels Low Beta: Multi-family, mixed-use; Total Construction Spend; Residential; Commercial2; Infrastructure2",
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      "text": "Note: U.S. construction spend data as of August 2022. As of September 30, 2022, U.S. construction spend data for September 2022 was not available. Prior to 2002, U.S. construction spend data by sector only available on an annual basis. 'Amount invested in transportation infrastructure as part of the American Recovery and Reinvestment Act (ARRA). 2Commercial spend is defined as commercial, office, lodging, amusement & recreation, and manufacturing. Infrastructure spend is defined as all non-Residential and non-Commercial construction spend (e.g., healthcare, education, transportation, power, water). Source: U.S. Census Bureau | National Bureau of Economic Research.",
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