10172017Tue
Last updateTue, 17 Oct 2017 2pm

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Manufacturing & The Economy

Dodge Momentum Index Declines 8.4%

The Dodge Momentum Index fell in September, moving 8.4% lower to 116.4 from the revised August reading of 127.1. The 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. Both components of the index declined in September. The institutional building component fell 11.5% from August, while the commercial building component fell 6.1%. While the overall Momentum Index has lost ground for four consecutive months, this should not be seen, in and of itself, as a predictor of a turn in building markets. Economic growth remains solid, and building market fundamentals are supportive of further growth in construction activity. 

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