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September 10, 2019

Dodge Momentum Index Drops 1.3 percent in August

Dodge Momentum Index Drops 1.3 percent in August

The Dodge Momentum Index declined 1.3 percent in August and is down 10.3 percent year-over-year. The Index tracks the first 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 August was due to a 16.6 percent decline in the institutional component of the Index. The commercial component increased by 9.1 percent.

Most of the year-over-year decline occurred in 2018. The Index has dropped only 1.8 percent since the beginning of 2019. According to Dodge, that indicates “that while construction activity will ease, it is not in a freefall.” Year-over-year, the institutional component has fallen 22.5 percent, while the commercial component has dropped 2.4 percent.

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