The Dodge Momentum Index fell 0.5% in April to 144.3 (2000=100) from the
revised March reading of 145.1. The Momentum Index, issued by Dodge
Data & Analytics, is a monthly measure of the first (or initial)
report for nonresidential building projects in planning, which have been
shown to lead construction spending for nonresidential buildings by a
full year. The retreat in April was the result of the commercial
component falling 1.0% while the institutional component rose a scant
0.2%.
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Dodge Momentum Index (Graphic: Business Wire)
The Momentum Index has clearly lost some impetus over the last twelve
months. The overall Momentum Index is down 8.5% since April 2018, with
the commercial component 4.7% lower and the institutional component
13.9% lower. However, over the past several months the Momentum Index
has moved in a crab-like fashion with neither strong gains or losses.
This suggests that there continues to be a reasonably healthy number of
projects in the planning pipeline to support a moderate level of
construction activity in the coming months.
In April, 18 projects each with a value of $100 million or more entered
planning. The leading commercial projects were a $418 million Microsoft
data center in Des Moines IA and a $300 million warehouse in Staten
Island NY. The leading institutional projects were a $300 million
hospital in New York NY and a $200 million hospital in Beachwood OH.
About Dodge Data & Analytics: Dodge Data & Analytics is North
America’s leading provider of analytics and software-based workflow
integration solutions for the construction industry. Building product
manufacturers, architects, engineers, contractors, and service providers
leverage Dodge to identify and pursue unseen growth opportunities and
execute on those opportunities for enhanced business performance.
Whether it’s on a local, regional or national level, Dodge makes the
hidden obvious, empowering its clients to better understand their
markets, uncover key relationships, size growth opportunities, and
pursue those opportunities with success. The company’s construction
project information is the most comprehensive and verified in the
industry. Dodge is leveraging its 100-year-old legacy of continuous
innovation to help the industry meet the building challenges of the
future. To learn more, visit www.construction.com.
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