In the latest update on the construction materials industry, the AVP Pulse Index experienced a modest increase of 0.1% for the month, but continues to gain ground with steady, but not overly strong, year-over-year growth of 3.8%. Over the past 36 months, the index increased 10.5%, indicating a slight slowdown in growth within the sector compared to earlier this year. Industry stocks hit new all-time highs earlier this year, and there has been what we believe is a rotational pullback as profit-taking takes place, yet profitability remains steady, if not strong, at several of the major multi-nationals.
