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New Home Construction Surges in June

Sales of newly built, single-family homes surged 8.3 percent to a seasonally adjusted, annual rate of 497,000 units in June, their fastest pace in the last five years, according to data released July 24, 2013, by HUD and the U.S. Census Bureau.

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Caterpillar Announces Adjusted Outlook

Caterpillar Inc. announced on July 24, 2013, a second-quarter profit per share of $1.45, down from second-quarter 2012 profit per share of $2.54. Sales and revenues were $14.621 billion, down from $17.374 billion in the second quarter of 2012. Profit was $960 million in the second quarter of 2013, down from $1.699 billion in the second quarter of 2012.

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Napa Honors Industry Leaders For Operational Excellence

The National Asphalt Pavement Association (NAPA) honored the winners and finalists of its 2012 Operational Excellence Awards on July 15 during the association’s Midyear Meeting in Boston.

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ARTBA Issues Warning to Pennsylvania Officials

Cutting highway and bridge work by 25 percent in any given year, and then sustaining it in the years ahead, would cost Pennsylvania $1.25 billion in lost economic activity over a five-year period and put as many as 9,600 jobs permanently at risk, the American Road & Transportation Builders Association’s (ARTBA) chief economist told state lawmakers at a July 31 hearing in Harrisburg.

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June Construction Settles Back One Percent

New construction starts in June receded 1 percent to a seasonally adjusted annual rate of $489.5 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial. Nonresidential building lost momentum in June after strengthening during the previous two months, and housing experienced a pause from its recent upward trend. Meanwhile, nonbuilding construction advanced in June, lifted by the start of several very large bridge projects.

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