The AVP Pulse Index rose 1.9% month-over-month, while increasing 6.2% year-over-year, and up 12.8% over the trailing 36 months. The ebbs and flows of the construction economy continue to be reflected in the ups and downs of the various components of the Pulse Index. Last month, both the Dodge Momentum Index and the Architecture Billings Index were big factors in underpinning softness in other metrics.
However, this month saw a sharp drop in both those metrics, which acted as a significant drag on the overall Index. But in the current period, almost every other metric was positive, especially in the Construction Confidence Index, the NAHB/Wells Fargo Housing Market Index, and especially the Housing Starts Index that was up a whopping 9.6% in a single month. Of course, the Industry Stocks Average Price has continued to be a driver as it has been for many months