The Dodge Momentum Index, issued by Dodge Data & Analytics, jumped 9.2% in December to 134.6 from the revised November reading of 123.3. The gain in the commercial component of the Momentum Index was heartening even though the increase was mostly the result of a sizeable increase in warehouse planning.
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Architecture firm billing activity is contracting once again after two months of a slowing decline, according to a new report from the American Institute of Architects (AIA). The pace of decline during November accelerated from October, posting an Architecture Billings Index (ABI) score of 46.3 from 47.5 (any score below 50 indicates a decline in firm billings).
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The Dodge Momentum Index, issued by Dodge Data & Analytics, fell 2.6% in November to 123.3 from the revised October reading of 126.5. The institutional component of the Momentum Index fell 4.4%, while the commercial component lost 1.6%.
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A new study published today by The American Institute of Architects (AIA) finds that data and culture gaps are obstacles architects are facing in fighting climate change. The report, “Sustainability in the Architect’s Journey to Specification,” identified a number of common obstacles that could be improved by the building products industry to help architects support climate action.
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Total construction starts rose 12% in October to a seasonally adjusted annual rate of $787.9 billon. While sizeable, the increase does not erase September’s substantial pullback in starts. All three major categories moved higher over the month, nonbuilding starts rose 25%, nonresidential buildings increased 19%, while residential activity gained 2%. “October’s gain was welcome news following the large step back in starts during the previous month,” stated Richard Branch, Chief Economist for Dodge Data & Analytics. “The month’s increase, however, does not mean all is well with the economy and construction sector. The economy lost traction as the stimulus provided by the CARES Act ended. With the next wave of COVID-19 infections looming, the economy will continue to lose steam until more fiscal stimulus is provided and a vaccine has been widely adopted. Until that has occurred, the construction sector will continue to be volatile.”
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Dodge Data & Analytics yesterday released its 2021 Dodge Construction Outlook. “The COVID-19 pandemic and recession has had a profound impact on the U.S. economy, leading to a deep drop off in construction starts in the first half of 2020,” stated Richard Branch, Chief Economist for Dodge Data & Analytics. “While the recovery is underway, the road to full recovery will be long and fraught with potential potholes. After losing an estimated 14% in 2020 to $738 billion, total construction starts will regain just 4% in 2021.”
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The Dodge Momentum Index, issued by Dodge Data & Analytics, fell 1.8% in October to 127.5 (2000=100) from the revised September reading of 129.8. The commercial component of the Momentum Index lost 4.4% over the month, but the institutional component gained 3.3%.
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A slight improvement in business conditions has led to fewer architecture firms reporting declining billings, according to a new report today from The American Institute of Architects (AIA).
Read MoreThe Portland Cement Association (PCA) released its annual Fall Forecast which predicts a modest decrease in cement consumption during 2020 and 2021. PCA Market Intelligence expects cement consumption, based on the weighted average of three different economic scenarios, will lessen by 1.5% for the remainder of 2020 and 0.9% in 2021.
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Dodge Data & Analytics reported today that total construction starts dipped 18% in September to a seasonally adjusted annual rate of $667.7 billion, essentially taking back August’s gain. While some of this decline is certainly payback from several large projects entering start in August, the drop in activity brought total construction starts below levels seen in June and July.
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