Dodge Momentum Index Eases Back in March

NEW JERSEY – April 2, 2020 – The Dodge Momentum Index declined by a scant 0.6% in March to 146.5 (2000=100) from the revised February reading of 147.4. 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 March was present in both components of the Momentum Index – the commercial component fell 0.8%, while the institutional component was 0.2% lower.

It is still very early on in the COVID-19 (Coronavirus) crisis and March’s data would not fully capture any potential impact of the pandemic on construction planning. However, it is heartening that projects continued to move into the early planning stages at a reasonable pace despite the near stoppage in economic activity over the last few weeks. What is unclear at this juncture; however, is whether projects will continue through the planning life cycle to the start stage at the same pace as before the pandemic began due to workforce issues, supply constraints, or forced moratoriums on construction from local officials. Dodge will be monitoring the progress of the projects entering the planning process and will provide frequent updates as the crisis evolves.

In March, 14 projects each with a value of $100 million or more entered planning. The leading commercial projects were a $459 million office building in Washington DC and a $300 million office building in Long Island City NY. The leading institutional projects were phases two and three of the Kaiser Permanente Moreno Valley Medical Center in Moreno Valley CA totaling $513 million.

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

 

###

About Dodge Construction Network

Dodge Construction Network leverages an unmatched offering of data, analytics, and industry-spanning relationships to generate the most powerful source of information, knowledge, insights, and connections in the commercial construction industry.

 

 

The company powers four longstanding and trusted industry solutions—Dodge Data & Analytics, The Blue Book Network, Sweets, and IMS—to connect the dots across the entire commercial construction ecosystem.

 

Together, these solutions provide clear and actionable opportunities for both small teams and enterprise firms. Purpose-built to streamline the complicated, Dodge Construction Network ensures that construction professionals have the information they need to build successful businesses and thriving communities. With over a century of industry experience, Dodge Construction Network is the catalyst for modern commercial construction. To learn more, visit construction.com


Media Contact

:
Allison Heard | 104 West Partners | allison.heard@104west.com