Steel Markets
Dodge Index Impacted by Coronavirus
Written by Sandy Williams
May 7, 2020
The Dodge Momentum Index fell 6.0 percent in April to 135.9. The monthly index by Dodge Data & Analytics measures the first report for nonresidential building projects in planning, which has been shown to lead construction spending by a full year. The commercial component of the index fell 7.6 percent, while the institutional component slid 3.2 percent.
“COVID-19 (coronavirus) had a significant negative impact on the economy in April, touching virtually all sectors — including construction,” wrote Dodge Data & Analytics. “Planning activity clearly downshifted, although that downshift has not been fully realized in the published index since the Momentum Index is a three-month moving average. This sets the stage for an even weaker reading when the May data is released in June.”
Six projects valued at $100 million or more entered the planning stage in April.
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Sandy Williams
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