The Dodge Momentum Index retreated 0.8 percent in March compared to February, according to McGraw Hill Construction, a division of McGraw Hill Financial. 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.
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Construction Spending Up in November
The U.S. Census Bureau of the Department of Commerce reported that construction spending during November 2013 was estimated at a seasonally adjusted annual rate of $934.4 billion, 1.0 percent (±1.6 percent) above the revised October estimate of $925.1 billion. The November figure is 5.9 percent (±2.0 percent) above the November 2012 estimate of $882.7 billion.
Read MoreConstruction Spending Rises in June
The U.S. Census Bureau of the Department of Commerce announced that construction spending during July 2013 was estimated at a seasonally adjusted annual rate of $900.8 billion, 0.6 percent (±2.0 percent) above the revised June estimate of $895.7 billion. The July figure is 5.2 percent (±2.1 percent) above the July 2012 estimate of $856.3 billion.
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