Dodge Momentum Index Lower in August
September 14, 2022
Dodge Momentum Index Lower In August
The Dodge Momentum Index dipped 1.2% in August moving to 171.9. This was down from the revised July score of 174.0. The commercial planning index gained 1%, while the institutional component dropped 5.6%.
Dodge Data and Analytics cited an increase in hotel projects leading the commercial gain, while a decrease in healthcare projects brought the institutional component down.
“In spite of weak institutional planning activity, the Momentum Index remained elevated in August, just a notch below July’s 14-year high. This indicates continued confidence from owners and developers that nonresidential building projects will be realized in the coming year,” said Sarah Martin, senior economist for Dodge Construction Network.
|Dodge Momentum Index||171.9||174.0||-1.2%|
Martin continued, “Weaker economic conditions and rising interest rates, however, may grind down overall consumer and business confidence as we move into 2023 — translating into fewer nonresidential building projects breaking ground.”
For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.