· The
all industries index dropped in June, its first drop in four months. The
index still stands in the 88th percentile (top 12 percent) of
its range. Construction fell again dropping to the bottom of its range.
The all important tertiary (or services) index is in the 92nd
percentile of its range. It has fallen in four of the past seven months
and in each of the past two.
· The construction index has been weak for some time. The tertiary and overall indices are weakening for the second time since early in 2008. The tertiary sector is where most of the jobs are.