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Dodge Momentum Index Cites Pause in Project Planning
Dodge Data & Analytics’ latest monthly report on nonresidential building projects in planning was marked by the negative impact of COVID-19 on the economy. The Dodge Momentum Index for April, released Thursday, moved 6.0% lower to 135.9 from the revised March reading of 144.5.
During April, Dodge said, planning activity clearly downshifted, although that downshift wasn’t 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.
In April, six projects each with a value of $100 million or more entered planning. The leading commercial projects were a $380-million office building in San Jose, and the $100-million Dream Hotel in Las Vegas. The leading institutional projects were a $365-million medical building in Houston, and the $100-million Harrisburg University Health Science Education Center in Harrisburg, PA.
Rendering of the Dream Hotel in Las Vegas courtesy of DLR Group.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Development
