The Dodge Momentum Index declined 6% in June to 155.8 (2000=100) in July, a 6% decline from the revised June reading of 164.9.
Both components of the Dodge Data & Analytics' Momentum Index, a monthly measure of the first report for nonresidential building projects in planning, fell in July. Commercial planning fell 3% and institutional planning dropped 9%.
"The momentum index posted strong gains through much of the winter and spring as the economy and building markets began to stabilize following the recession," according to Dodge Data & Analytics. "While the economy has continued its forward progress through the summer, the index has regressed somewhat as higher material prices and shortages of skilled labor continue to exert a strong influence over the construction sector."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
