The Dodge Momentum Index moved a scant 0.1% lower in May to 129.2 (2000=100) from the revised April reading of 129.4. 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. The commercial component of the momentum index rose 1.0% during the month, while the institutional component dropped 1.9%. The resilience of the momentum index over the last two months has been remarkable in the face of the COVID-19 crisis … Read more