Like I said, I don't know what to make of it. We're clearly heading towards recession, as well (if we aren't already in one). There's almost certainly a housing crash in progress. I don't see any evidence irl of a radical increase in industrial construction projects.

To me, this smells like some sort of artificial pre-bust spending spree. If I had to guess, I'd guess it's due to the trillions that have been pushed into the economy the past few years from the Biden administration.