Pullback in Commercial, Institutional Planning Ends 6-Month Consecutive Gains

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Following six months of consecutive gains, the Dodge Momentum Index fell to 165.8 (2000=100) in June, down 5% from the revised May reading of 175.1. 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 decline in June was the result of losses in both institutional planning, which fell 7%, and commercial planning, which lost 4%. . Uncertain demand for some building types (such as retail and hotels), higher material … Read more

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New Construction Starts in July Slide 9 Percent

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NEW YORK, N.Y. – At a seasonally adjusted annual rate of $817.4 billion, new construction starts in July fell 9 percent from the elevated pace reported in June, according to Dodge Data & Analytics. The latest month’s decline followed strong gains for total construction starts during the previous two months, with May up 14 percent and June up 11 percent. By major sector, nonresidential building dropped 22 percent after soaring 59 percent in June, which had been lifted by the start of two massive manufacturing plants and two massive office buildings. While July did see several large manufacturing and office … Read more

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