Dodge Momentum Index Increases in July

  • Posted on

Dodge Momentum Index moved 3.4% higher in July to 124.7 (2000=1000) from the revised June reading of 120.5. The momentum index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. During the month, the commercial component increased 5.3% while the institutional component was unchanged. 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 … Read more

Filed under: Economic NewsTagged with: , , ,

AGC Calls for New Infrastructure, Other Relief Measures

  • Posted on

Construction employment decreased in 225, or 62%, out of 358 metro areas between June 2019 and last month despite widespread increases from May to June, according to an analysis of new government data that the Associated General Contractors of America released. Association officials urged government officials to enact liability reform, boost infrastructure investments and extend tax credits to help the industry recover and rebuild. “It’s troubling to see construction employment lagging year-ago levels in most locations, in spite of a strong rebound in May and June,” said Ken Simonson, the association’s chief economist. “Those gains were not enough to erase … Read more

Filed under: Economic NewsTagged with: , ,

COVID-19 Crushes Construction Starts in Most Metro Areas during First-Half 2020

  • Posted on

The COVID-19 pandemic and resulting recession have wreaked havoc on U.S. building markets. According to Dodge Data & Analytics, commercial and multifamily starts were quite healthy during January and February but stalled as the pandemic hit the nation in March. For the first three months of 2020, U.S. multifamily and commercial building starts inched up 1% from the same period of 2019. The commercial and multifamily group is comprised of office buildings, stores, hotels, warehouses, commercial garages and multifamily housing. Not included in this ranking are institutional building projects (such as educational facilities, hospitals, convention centers, casinos, transportation terminals), manufacturing buildings, single-family … Read more

Filed under: Economic NewsTagged with: , ,

Dodge Reports Construction Starts Show Additional Gains in June

  • Posted on

Total construction starts increased 6% in June to a seasonally adjusted annual rate of $641.4 billion. This marks the second consecutive monthly gain in construction starts following the COVID-19 induced declines in March and April. In June nonresidential building starts gained 6% and starts in the nonbuilding sector moved 27% higher. Residential starts, by contrast, fell 6% during the month. Through the first six months of the year, starts were down 14% from the same period in 2019. Nonresidential starts fell 22%, nonbuilding starts were down 14% and residential starts dropped 5%. For the 12 months ending in June 2020, … Read more

Filed under: Economic NewsTagged with: , , ,

Parish Episcopal School’s Noble Family Performing Arts Center Tops Out

  • Posted on

Later this month, the construction team and school will celebrate the topping out of the Noble Family Performing Arts Center at Parish Episcopal School’s Midway Campus in Dallas, Texas. The new performing arts center—part of a 55,000-square-foot campus expansion—will host student performances, community and milestone events, awards ceremonies and high-caliber speakers and cultural events. McCarthy Building Companies, Inc. broke ground on the project in November of 2019 and it is expected to be complete by spring of 2021. The Noble Family Performing Arts Center includes a 515-seat performance hall, 120-seat black box theater, rehearsal rooms, a film screening room and … Read more

Filed under: ProjectsTagged with: , , ,