Dodge Momentum Index Declines in February

The Dodge Momentum Index, a measure of the initial report for nonresidential construction projects in planning, fell 4.4 percent to 146.9 in February after rebounding in January.

“Since November, the Momentum Index has re-established a sawtooth pattern that’s often been present in recent years,” said Dodge Data & Analytics. “It’s also become clear that the average level of activity has downshifted slightly since the summer of 2018. From April through August last year, the average level of the Momentum Index was 158.6, while from September through the latest month the average is 150.3 – a decline of 5.2 percent. This shift continues to suggest that the growth in construction activity will moderate over the coming year.”