Dive Brief:

• The Dodge Construction Index compiled by McGraw Hill Construction was down from January to February, the company said, but the reading of 116.5 was still 19.6% higher than February 2013.
• The Dodge Index reflects what McGraw Hill calls "first reports" of noncommercial projects, and it's considered an indicator of construction spending likely to happen as far out as 12 months later.
• The Index uses the year 2000 as its base figure of 100 to measure expansion or contraction in the sector.

Dive Insight:

McGraw Hill blamed the slip from January's index of 119.7 on mediocre employment data from December and January. Those numbers gave some companies and institutions pause in their planning for new construction, McGraw Hill said. February's job report should help, however. In February, commercial and institutional building were both down.