The Index remains flat once again this month, with a small, +0.7% increase following last’s months small gain as well. More significantly, the +5.5% year-over-year increase and +10.7% over the last 36 months reflects a slowing in the overall construction economy as the Fed’s tightening takes hold in its fight against inflation. But a strong showing by the Dodge Momentum Index and strong housing starts bodes well for the months ahead, as well as the Construction Backlog Indicator. Like last month, the Index reflects a steady construction economy.