The Dodge Momentum Index slipped another 0.6% over the month in October, according to McGraw-Hill Construction. The October Momentum Index retreated to 93.3 (2000=100), the third consecutive monthly decline following the most recent peak of 96.0 in July. The Momentum Index is a monthly measure of the first (or initial) reports 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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