Commercial component leads Dodge Momentum Index higher in September
The gain in the September Dodge Momentum Index was due entirely to an 8.9% increase in the commercial component, while the institutional component fell 4.8%.
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Category: Construction Starts
Decline in institutional building component drives Dodge Momentum Index lower in August
The Dodge Momentum Index, issued by Dodge Data & Analytics, dropped 1.3% from July to August to 137.8. The drop was the result of a 16.6% decline in the institutional component offsetting a 9.1% gain in the commercial component.
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Dodge Data & Analytics appoints Richard Branch as new Chief Economist
“Throughout my years at Dodge, I’ve had the privilege of working directly with Robert Murray and his team of expert economists that have their fingers firmly on the pulse of the construction industry,” said Richard Branch. “As Chief Economist, I’m excited and eager to build upon an already strong foundation, and further solidify Dodge as the premier, go-to resource for construction industry insight and authority on data, trends, and market activity.”
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First half 2019 commercial and multifamily construction starts show mixed results by metropolitan areas
Last week, Dodge Data & Analytics released the First Half 2019 Commercial and Multifamily Construction Starts for the Top 20 metropolitan areas in the U.S. Within the top ten markets, six reported greater activity in 2019 and out of the top twenty markets, thirteen were able to register gains. At the national level, the volume of commercial and multifamily construction starts in 2019 was $101.4B, down 6% from last year’s $107.4 billion.
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Dodge Momentum Index July decline due to institutional pullback
The lower reading for the Dodge Momentum Index in July was due to a 10.2% pullback by its institutional segment following a 6.0% increase in June. The commercial segment in July was basically flat, slipping a slight 0.3%.
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June construction starts increase, while first six months down from a year ago
According to Dodge Data & Analytics, new construction starts in June advanced 9% from the previous month with increases in nonresidential building, office buildings, public buildings, healthcare facilities, and warehouses. However, through the first six months of 2019, total construction starts on an unadjusted basis were down 8% from the same period a year ago.
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Dodge Momentum Index increases in June
Despite the improvement shown by Dodge Data & Analytics’ Dodge Momentum Index in June, planning for commercial and institutional building projects has clearly stepped back from the torrid pace set during the first half of 2018. Indeed, the average of the overall Momentum Index through the first six months of 2019 was 4.3% lower than the same period a year ago, with the commercial component down 5.2% and the institutional component down 3.0%.
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Dodge Momentum Index dips in April
The overall Dodge Momentum Index is down 8.5% since April 2018, with the commercial component 4.7% lower and the institutional component 13.9% lower. However, over the past several months the Momentum Index has moved in a crablike fashion with neither strong gains or losses. This suggests that there continues to be a reasonably healthy number of projects in the planning pipeline to support a moderate level of construction activity in the coming months.
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Dodge Momentum Index inches higher in March
The March uptick was due to a 2.8% increase in the commercial component of Dodge Data & Analytics’s Dodge Momentum Index, while the institutional component fell 3.0%.The overall Momentum Index has essentially moved sideways and stayed within a very narrow band of activity since the fall of last year. This is highly indicative of where building markets currently are at this late stage of the construction cycle.
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Construction starts in February drop 3 percent
According to Dodge Data & Analytics, two of the three main construction sectors registered weaker activity in February – nonbuilding construction fell 8 percent, due to a pullback by its public works segment, while residential building slipped 3 percent. Meanwhile, nonresidential building in February was able to hold steady with its January pace.
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