Nonresidential Construction Employment Expands in September, Says ABC

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The construction industry added 26,000 jobs on net in September, according to an Associated Builders and Contractors analysis of data released recently by the U.S. Bureau of Labor Statistics. During the last five months, the industry has added 689,000 jobs, recovering approximately 64% of the jobs lost since the start of the pandemic. Nonresidential construction employment added 4,000 jobs on net in September. Two subsegments, nonresidential building and nonresidential specialty trade, experienced employment gains, adding 5,300 and 2,100 jobs, respectively. Heavy and civil engineering partially offset those gains, however, losing 3,400 jobs on net. The construction unemployment rate was 7.1% … Read more

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Dodge Momentum Index Increases in July

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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

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September Construction Starts Settle Back 5 Percent

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NEW YORK, N.Y. –New construction starts in September fell 5 percent from the previous month to a seasonally adjusted annual rate of $709.6 billion, according to Dodge Data & Analytics. The September downturn followed 9 percent declines in both July and August, as the pace of construction starts has now pulled back for the third month in a row after reaching the current year’s high in June. By major sector, nonresidential building weakened further in September, sliding 6 percent. Nonbuilding construction dropped 13 percent in September, due to sharp retrenchment for the electric utility/gas plant category while public works held … Read more

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Tepid Rise for Dodge Momentum Index in February

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NEW YORK, N.Y. – The Dodge Momentum Index increased 0.5 percent in February to 146.9 (2000=100) from the revised January reading of 146.2. The momentum index 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 move higher in February was the result of an 8.2 percent increase in the institutional component, while the commercial component contracted 4.8 percent. The commercial component has declined for two consecutive months and, while this should not lead to an outright decline … Read more

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Dodge Momentum Index Remains Strong in November

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NEW YORK, N.Y. – The Dodge Momentum Index surged again in November, climbing 13.9 percent to 149.5 (2000=100) from the revised October reading of 131.3. The momentum index 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 November increase was the second month of strong gains after a four-month period of softness. November’s advance was the result of healthy gains in both the commercial and institutional sectors. From October to November, the commercial portion of the momentum … Read more

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