The Dodge Momentum Index moved 1.8% lower in February to 148.7 (2000=100) from the revised January reading of 151.4. 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 drop in February was the result of declines in both components of the Momentum Index, with the commercial component losing 2.1% and the institutional component declining by 1.2%.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200306005069/en/
(Graphic: Business Wire)
While the overall Momentum Index has declined for two consecutive months, it remains 11% higher on a year-over-year basis. The commercial component is 20% higher than a year ago, while the institutional component is 2% lower. This continues to suggest that construction activity should remain near its recent highs in 2020.
In February, six projects each with a value of $100 million or more entered planning. The leading commercial projects were a $200 million hotel in Cincinnati OH and a $300 million Amazon warehouse in Colorado Springs CO. The leading institutional projects were the $420 million Asante Rogue Regional Medical Center in Medford OR and a $150 million lab facility in New Haven CT.
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.