Dodge Momentum Index Loses Ground
The Dodge Momentum Index erased the gains made over the last two months, falling 4.4% in July to 121.4 (2000=100). This marks the Index’s first decline in four months, according to McGraw Hill Construction, a division of McGraw Hill Financial.
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. While the Dodge Momentum Index stumbled in July, on a year-over-year basis it remains 16.5% higher than a year earlier. The July decline therefore may simply be a return to a more sustainable pace following a spring bump.
Click here for the complete news release.
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
