The Dodge Momentum Index moved 6.0% lower in April to 135.9 from the revised March reading of 144.5. Both components of the Momentum Index pulled back during the month – the commercial component fell 7.6%, while the institutional component dropped 3.2%.
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Reflecting the deteriorating conditions in the overall economy, demand for design services from architecture firms recorded a record fall, according to a new report today from The American Institute of Architects (AIA).
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“Considering the calamity that occurred towards the end of March as the fallout from the COVID-19 (Coronavirus) hit the economy, construction starts held up rather well,” stated Richard Branch Chief Economist for Dodge Data & Analytics. “Construction starts in March were unlikely to be greatly impacted as projects that broke ground during the month likely had materials sourced and in-place and labor booked well ahead of the scheduled groundbreaking.”
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The drop in March was present in both components of Dodge Data & Analytics’ Momentum Index – the commercial component fell 0.8%, while the institutional component was 0.2% lower. It is still very early on in the COVID-19 crisis and March’s data would not fully capture any potential impact of the pandemic on construction planning. Dodge will be monitoring the progress of the projects entering the planning process and will provide frequent updates as the crisis evolves.
Read MoreThe International Code Council surveyed building and fire departments to learn how code officials are coping with the professional challenges brought on by the COVID-19 pandemic. The survey collects trends, ideas, solutions and best practices from code officials about how they are keeping up with new building permits and new construction during the pandemic months.
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A new report Friday from the American Institute of Architects (AIA) reveals the immediate impact of the COVID-19 pandemic on architecture firms in the U.S. A recent AIA survey found that 50 percent of architecture firms reported fewer new design projects for March—as of the March 23 survey date—as compared to their expectations entering the month.
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“Business conditions at architecture firms have been surprisingly positive so far this year. However, firms were just beginning to feel the impact of the dramatic slowdown caused by COVID-19 as this survey was being conducted in early March.” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “The rapid pull-back in activity throughout the economy will obviously be felt in the design and construction sector, and architecture firms will be one of the first to see how these events play out.”
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The Dodge Momentum Index, issued monthly by Dodge Data & Analytics, moved 1.8% lower in February. While the overall Momentum Index has declined for two consecutive months, it remains 11% higher on a year-over-year basis. The commercial component is 20% higher than a year ago, while the institutional component is 2% lower. This continues to suggest that construction activity should remain near its recent highs in 2020.
Read MoreToday, the eight member organizations of the Joint Call to Action for Healthy Communities (JCTA) Coalition published ten discussion guides to highlight successful cross-disciplinary collaborations for healthy, equitable communities. The JCTA includes American Society of Landscape Architects, American Planning Association, American Public Health Association, American Society of Civil Engineers, American Institute of Architects, National Recreation and Park Association, U.S. Green Building Council, Urban Land Institute.
Read MoreThe American Society of Interior Designers (ASID) has released its 2020 Outlook and State of Interior Design report. This annual compendium takes a deep dive into the interior design industry, business and profession to provide a comprehensive outlook for the year ahead and guide interior designers on how critical moving parts such as the U.S. economy, U.S. construction activity and various trends, apply to their business.
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