Dodge Momentum Index Resumes Growth in May

Following a dip in April, the Dodge Momentum Index advanced 4.0 percent in May to 139.1 (2000=100) from its revised April reading of 133.7. 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. 

Read more: Dodge Momentum Index Resumes Growth in May

Lakes Limestone Trade Down 5.4 Percent in May

Shipments of limestone on the Great Lakes totaled 3.6 million tons in May, a decrease of 5.4 percent compared to a year ago. May’s loadings were, however, slightly above the month’s five-year average.

Read more: Lakes Limestone Trade Down 5.4 Percent in May

Progressive Group Calls for $2 Trillion Infrastructure Investment

The Congressional Progressive Caucus called for even greater investment in America's infrastructure than President Trump's $1 trillion plan. The group's plan invests $2 trillion over 10 years, employing 2.5 million Americans in its first year, to rebuild transportation, water, energy and information systems, while massively overhauling the country’s unsafe and inefficient schools, homes and public buildings. 

Read more: Progressive Group Calls for $2 Trillion Infrastructure Investment

Construction Spending Down for Month; Up for Year

Construction spending during April 2017 was estimated at a seasonally adjusted annual rate of $1,218.5 billion, 1.4 percent (±1.0 percent) below the revised March estimate of $1,235.5 billion. The April figure is 6.7 percent (±1.5 percent) above the April 2016 estimate of $1,142.5 billion.

Read more: Construction Spending Down for Month; Up for Year

Deere & Co. to Acquire Wirtgen Group

Deere & Co. has signed a definitive agreement to acquire the Wirtgen Group. The purchase price for the equity is EUR 4.357 billion in an all-cash transaction. The total transaction value is approximately EUR 4.6 billion ($5.2 billion based on current exchange rates), including the assumption of net debt and other consideration. 

Read more: Deere & Co. to Acquire Wirtgen Group