All commercial construction sectors, such as retail, warehouse and office, either pulled back or remained flat over the month of July. On the institutional side, education and healthcare projects also posted significant decelerations in activity, according to Dodge. Other subcategories within institutional include public building and dormitory construction.
That means the index, which peaked in December 2022 and typically leads actual construction spending by 12 months, has now shed gains for the fifth straight month, according to Dodge.
