The Dodge Momentum Index, issued by Dodge Data & Analytics, rose 3.7% in September. The Momentum Index has made steady, albeit slow, progress since hitting a nadir in June. In the third quarter, the Momentum Index gained 2.2% over the previous three months.
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As all industries tackle the ongoing effects of COVID-19, the American Society of Interior Designers (ASID) has sought to understand the resiliency of the design industry and profession through times of uncertainty. The 2020 ASID Interior Design Resiliency Report has released the results from its first phase, conducted during the summer of 2020 in partnership with Cosentino, Benjamin Moore and Emerald to further investigate interior design resilience by examining the impact of the pandemic, the response from the interior design community and the changes necessary in design to move forward.
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Business conditions remained stalled at architecture firms during August as demand for design services continued to decline, according to a new report from The American Institute of Architects (AIA).
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Total construction starts rose 19% in August to a seasonally adjusted annual rate of $793.3 billion, according to Dodge Data & Analytics. Gains were seen in all three major building sectors: nonresidential building starts rose 16% and residential building climbed 12%, while nonbuilding construction jumped 40% over the month. While large projects certainly influenced the August gains, removing those projects would still have resulted in a gain for the month.
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Dodge Data & Analytics reports that the Dodge Momentum Index increased 1.8% in August. The commercial component rose 3.3%, while the institutional component moved 1.2% lower. The August increase in the overall Momentum Index is the second consecutive rise and a further sign that the construction sector continues to post a modest recovery following the large declines in April and June. This recovery, though, is uneven.
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Architectural billings failed to show any progress during July, and business conditions continued to be soft at firms, according to the latest Architecture Billings Index (ABI) report from The American Institute of Architects (AIA).
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Total construction starts fell 7% in July to a seasonally adjusted annual rate of $631.6 billion, according to Dodge Data & Analytics. The decline was due to a significant pullback in the nonbuilding segment, which fell 31% from June to July. Nonresidential building starts rose 3% while residential building starts increased 2%.
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The American Institute of Architects (AIA) is releasing a new report today detailing strategies that can help mitigate risk of COVID-19 in multifamily housing. “Strategies for Safer Multifamily Housing” includes a seven-step Risk Management Plan for Buildings that multifamily housing owners and operators can utilize to assess hazards, apply architectural or engineering strategies, and reduce risk of virus transmission in buildings.
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This month’s increase in the Dodge Momentum Index was the first in all of 2020. Since December 2019, the Momentum Index has lost 18% with most of the decline coming in April when the COVID-19 pandemic led to numerous business shutdowns across the country. The pullback has largely come from institutional planning, rather than commercial plans.
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AIA’s Architecture Billings Index (ABI) score for June was 40.0 compared to 32.0 in May. “While business conditions remained soft at firms across the country, those with a multifamily residential specialization saw the most positive signs,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “Unfortunately, conditions at firms with a commercial/industrial specialization are likely to remain weak for an extended period of time, until hospitality, office and retail facilities can fully reopen, and design demand for this space begins to increase.”
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