1 minute reading time (180 words)

COVID-19 Affects Nonresidential Building

COVID-19 continues to impact industries left and right and is now hitting the nonresidential building sector. The Dodge Momentum Index declined 6% in April, according to a release from Dodge Data & Analytics. The index measures the initial report of nonresidential projects in planning.

Despite the significant drop, the full impact of COVID-19 has not been measured yet as the index is a three-month moving average. The commercial component dropped 7.6%, and the institutional component fell 3.2% in April. Dodge Data & Analytics expects June will be even weaker once the May data is incorporated into the index.

There were only six projects that entered planning valued at $100 million or more in April. The commercial sector was led by a $380 million office building in California and a $100 million hotel in Las Vegas. The top institutional projects were a $365 million medical building in Houston and A $100 million project in Harrisburg, Pennsylvania. There were 14 projects valued at $100 million or more to enter planning in March.

-Michael Miller, managing editor

Strategic Global Intelligence Brief for May 8, 202...
Strategic Global Intelligence Brief for May 6, 202...

Related Posts



No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Thursday, 09 July 2020