Dodge Momentum Index Trips on COVID-19 in April

Dodge Momentum Index Trips on COVID-19 in April

NEW JERSEY – May 7, 2020 – 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%.

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

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Media Contact :
Cailey Henderson | 104 West Partners | cailey.henderson@104west.com

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About Dodge Construction Network
Dodge Construction Network is a solutions technology company providing 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 longstanding and trusted industry solutions to timely connect and enable decision makers across the entire commercial construction ecosystem. For more than a century, Dodge Construction Network has empowered construction professionals with the information they need to build successful, growing businesses. To learn more, visit construction.com

Media Contact:
Amy Roepke | amy.roepke@construction.com

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