July Shows Rebound for Dodge Momentum Index
The Dodge Momentum Index rose to 125.3 in July, up 5.4% from its June reading, according to Dodge Data & Analytics. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
In the first half of the year, the Index showed a sawtooth pattern because of the sluggish economy. The newest number puts it back on its "generally rising trend" over the past four years. The increase in July relative to June was led by strong gains for both institutional planning, up 6.0%, and commercial planning, up 4.9%.
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