Dive Brief:

• The Dodge Momentum Index, which measures first reports for nonresidential construction in the U.S., was at 115.3 in October, down 0.9 points from September.
• The index, compiled by McGraw-Hill Construction, remained well above its December 2012 mark of 90.8.
• The index uses 2000 as a base year equal to 100 and is considered a 12-month leading indicator of construction spending.

Dive Insight:

The negative movement in October reversed a yearlong rise in the index, and it was unclear whether that was just a pause or an indicator of some concern about the pace of the economic recovery slowing. Among the components of the index, plans for hotel construction were up, and stores and offices were down. Institutional construction plans were steady, partly because of repairs planned for medical facilities damaged by Superstorm Sandy last year.