Dodge Momentum Index Declines for 3rd Month

The Dodge Momentum Index, a monthly measure of initial reports for nonresidential building projects in planning, fell 0.7 percent from August to a reading of 115.8 for September. The index rose 13 percent in the first half of this year but has been down in the past three months by a combined percentage of 7 percent.

“Despite these setbacks, the Momentum Index remains 8% higher than a year ago, indicating that to this point the upward trend for nonresidential building projects at the planning stage is still present,” wrote McGraw Hill in its monthly report.