Dodge Momentum Index climbs during month of July

The Dodge Momentum Index, a monthly measure of the initial report for nonresidential building projects in planning, issued by Dodge Data & Analytics, bumped up 3.4 percent in July from 124.7 from from the revised June reading of 120.5.

According to the index, nonresidential building projects in planning have been shown to lead construction spending for nonresidential buildings by a full year. During the month of July, the commercial component increased 5.3 percent, while the institutional component was unchanged.

This month’s increase in the Dodge Momentum Index was the first in 2020.

The index has plummeted 18 percent since 2019, with the majority of the decline coming in April when the COVID-19 pandemic led to numerous shutdowns across the country. According to Dodge Data & Analytics, the pullback has largely come from institutional planning, rather than commercial construction plans.

The firm noted the institutional component is currently 28