Dodge Momentum Index declines in July 2019

The Dodge Momentum Index fell 4.6 percent in July to 138.9. Chart courtesy of Dodge Data & Analytics.

The Dodge Momentum Index dropped 4.6 percent in July to 138.9, compared to the revised June reading of 145.6, according to Dodge Data & Analytics.

The decline in July’s reading stems from a 10.2 percent retreat in the institutional segment following a 6 percent increase in June. The commercial segment, in contrast, dropped by only 0.3 percent.

There were 13 projects, each with a value of $100 million or more, that entered planning in July, including nine commercial projects and four institutional projects.

The leading commercial projects were a $370 million warehouse and cargo facility at the Anchorage International Airport in Alaska, and a $290 million mall redevelopment in Raleigh, North Carolina.

The leading institutional projects were a $230 million hospital in Albuquerque, New Mexico, and a $200 million hospital in Pensacola, Florida.

The momentum index has trended downward since peaking in July 2018, according to Dodge Data & Analytics. The index is down 11.6 percent in July 2019 when compared to the same time period a year ago. Furthermore, the commercial segment is down 17.4 percent and the institutional segment is down 1.8 percent over that same timespan.

However, much of the decline occurred during the latter half of 2018, according to Dodge Data & Analytics, with December 2018‘s reading 10.6 percent below the July 2018 peak.