The Dodge Momentum Index, which measures the first report for nonresidential building projects in planning, slipped just 0.6% in March. Issued by Dodge Data & Analytics, the index has been shown to lead construction spending for these types of projects by a full year. The commercial component was off 0.8%, while the institutional component was a scant 0.2% lower.

 

The construction industry analytics firm stated, "It is still very early on in the COVID-19 crisis and March's data would not fully capture any potential impact of the pandemic on construction planning. However, it is heartening that projects continued to move into the early planning stages at a reasonable pace despite the near stoppage in economic activity over the last few weeks.

"What is unclear at this juncture, however, is whether projects will continue through the planning life cycle to the start stage at the same pace as before the pandemic began due to workforce issues, supply constraints or forced moratoriums on construction from local officials."