Date: June 9, 2020
The Dodge Momentum Index moved a slightly 0.1% lower in May to 129.2 from the revised April reading of 129.4. The commercial component of the Momentum Index rose 1% during the month, while the institutional component dropped 1.9%. The resilience of the Momentum Index over the last two months has been remarkable in the face of the COVID-19 crisis and resulting economic recession. With May’s reading, the Momentum Index is down 17% from its most recent peak in July 2018. This tends to suggest that there are enough projects entering planning to allow construction to begin a modest recovery in the third quarter.