The Dodge Momentum Index rose 6.3% in February, according to McGraw-Hill Construction. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. February’s strong gain brought the index to 102.9 (2000=100), 23.4% higher than a year earlier. The increase was the third consecutive monthly gain and the first time the ...
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