Dodge Momentum Index Falls in August

The Dodge Momentum Index fell 1.4 percent in August compared to July, according to the latest report from McGraw-Hill Construction, a division of The McGraw-Hill Companies. 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. The August Momentum Index came in at 96.8 (2000=100), down from July's revised 98.1.

Still, McGraw-Hill reports that the index remains 21.4 percent ahead of its level a year earlier.

When looking at specific segments of the market, the commercial component of the index dropped 3.5 percent in August, while the institutional building segment rose 1 percent over the previous month.