Dodge Momentum Index Trips on COVID-19 in April

HAMILTON, N.J.--(BUSINESS WIRE)-- The Dodge Momentum Index moved 6.0% lower in April to 135.9 (2000=100) from the revised March reading of 144.5. 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. Both components of the Momentum Index pulled back during the month – the commercial component fell 7.6%, while the institutional component dropped 3.2%.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200507005190/en/

(Graph: Business Wire)

COVID-19 (Coronavirus) had a significant negative impact on the economy in April, touching virtually all sectors — including construction. Planning activity clearly downshifted, although that downshift has not been fully realized in the published index since the Momentum Index is a three-month moving average. This sets the stage for an even weaker reading when the May data is released in June.

In April, six projects each with a value of $100 million or more entered planning. The leading commercial projects were a $380 million office building in San Jose CA and the $100 million Dream Hotel in Las Vegas NV. The leading institutional projects were a $365 million medical building in Houston TX and the $100 million Harrisburg University Health Science Education Center in Harrisburg PA.

Dodge Data & Analytics COVID-19 (Coronavirus) Resources: https://www.construction.com/toolkit

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200507005190/en/

Nicole Sullivan | AFFECT Public Relations & Social Media | +1-212-398-9680, [email protected]

Source: Dodge Data & Analytics

You May Also Be Interested In

• e.l.f. Cosmetics Answers Community Demand with the Return of Pickle-Inspired Glow Reviver Melting Lip Balms
• East Oak Introduces The Pitmate™ Tabletop 20-In Electric Smoker: Real Wood-Smoked Flavor For Every Outdoor Space
• Faraday Future Supports AIxC’s Full Strategic Pivot to Physical AI and Robot-Sharing and Rental Operations; RoboShare Completes Its First Paid Commercial Order, With an Initial Fleet of More Than 80