Oct. 19, 2023 – The AVP Pulse Index this month dropped 1.4% month-over-month, while increasing 4.4% year-over-year. The proprietary AVP Pulse Index – a joint effort between mergers and acquisition advisors Allen-Villere Partners, and Rock Products – illustrates the health of the industry in one single trend line, using relevant data that is updated monthly or quarterly.
“The previously flattened curve of the Index turned down for the second month, indicating the see-sawing of various economic indicators as the economy shows strength in certain areas, and softening in others, which we consider to be temporary,” stated Pierre Villere of Allen-Villere Partners. “And the news is mixed, with enough of a slippage in various confidence indexes, yet some increases in others. Dodge Data Momentum Index and Construction Spending were up, but the housing indexes were down for the month. The continued optimism among investors in the publicly traded construction materials companies has stock prices elevated which helps steady the AVP Pulse Index algorithm. There is no doubt that a flat new home construction market is being more than offset by IIJA projects flowing through the economy. Once again, NO RECESSION in sight.”
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