May Construction Data Paints Mixed Picture
June 15, 2015
The Dodge Momentum Index, a monthly measure of the first report for nonresidential building projects in planning, dipped ever-so-slightly in May, extending what has been an essentially flat 2015. However, in better news, construction hiring increased in the month, continuing that trend.
The May Momentum Index came in at 122.3, a hair lower than April’s 122.6. According to a Dodge Data & Analytics release, “After rising over the course of 2014, the Index thus far in 2015 has been basically flat, consistent with other measures highlighting sluggish economic conditions. Even with this near term pause, the Index in May was still up 6.1 percent compared to the same month a year ago.”
According to the National Estimates Branch, Current Employment Statistics Survey, U.S. Bureau of Labor Statistics, “Construction employment continued to trend up (+17,000) over the month. Employment in construction has grown by 273,000 (+4.5 percent) over the past 12 months.”