Dodge Momentum Index drops in February 2019
Charts courtesy of Dodge Data & Analytics. Click to enlarge.
The Dodge Momentum Index receded 4.4 percent in February to 146.9, reports Dodge Data & Analytics, from the revised January reading of 153.6.
In February, the institutional component fell 5.9 percent and the commercial component dropped 3.4 percent.
According to Dodge Data & Analytics, the average level of activity has downshifted slightly since the summer of 2018. From April through August 2018, the average level of the Dodge Momentum Index was 158.6, while from September 2018 through February 2019, the average was 150.3, representing a 5.2 percent decline. This shift continues to suggest the growth in construction activity will moderate over the coming year, Dodge Data & Analytics adds.
In February, nine projects each with a value of $100 million or more entered planning. The leading commercial building projects were a $200 million Keurig/Dr. Pepper office project in Frisco, Texas, and a $200 million mixed-use development in San Jose, California. The leading institutional building projects were the $300 million VCU Health Children’s Hospital in Richmond, Virginia, and the $187 million Wolfson Children’s Critical Care Tower in Jacksonville, Florida.
The Dodge Momentum Index 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.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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