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Dodge Momentum Index down in November 2020

By |  December 14, 2020
November 2020 Dodge Momentum Index

Dodge Data & Analytics says the economy has struggled to maintain traction since the expiration of support programs in the CARES Act and, in its wake, planning for nonresidential building projects has slowed. Table/chart: Dodge Data & Analytics

The Dodge Momentum Index dropped 2.6 percent in November to 123.3 from a revised October reading of 126.5, according to Dodge Data & Analytics.

By segment, Dodge Data’s institutional component lost 4.4 percent while the commercial component fell 1.6 percent.

In November, nine projects, each with a value of $100 million or more, entered planning.

The leading institutional projects were the $320 million modernization of Jefferson High School in Portland, Oregon, and a $235 million lab project at Schuylkill Yards in Philadelphia.

The leading commercial projects were a $300 million commercial development on 5th Ave. in New York City and a $300 million warehouse project in Pittsburgh.

Dodge Data says the economy has struggled to maintain traction since the expiration of support programs in the CARES Act and, in its wake, planning for nonresidential building projects has slowed. Additionally, uncertainty over another federal stimulus bill has complicated the nation’s economic recovery and will continue to negatively impact nonresidential building, Dodge Data says.

The momentum index, issued by Dodge Data, is a monthly measure of the first report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

Zach Mentz

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