Dodge Momentum Index Continues Downward Trend in June
"The Momentum Index has shifted noticeably lower as the fallout from recession continues to hold its grip on the construction sector," according to a release from Dodge Data & Analytics.
In June, the institutional portion of the Momentum Index fell nearly 12%, and the commercial component dropped 3.5%. The index slipped 13% in the second quarter compared to the first quarter of 2020. "While projects continue to enter planning, the slower pace suggests that recovery in the construction sector will be modest in coming months," states the release.
There were seven projects valued at $100 million or more to enter planning in June. The commercial side was led by a $200 million warehouse in Connecticut and a $200 million office building in Massachusetts. A $115 million emergency room in New York was the only institutional project over $100 million. There were 11 total projects valued at $100 million or more in May.
-Michael Miller, managing editor