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Uncertainty, Building Costs and Labor Shortages Weigh Dodge Momentum Index Down in June
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Apogee Enterprises Inc (APOG) Q1 2022 Earnings Call Transcript
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Date: 12 May 2021Source: www.glass.org
Photo source
Date: 12 May 2021
The Zoom meeting drew 68 member participants, a strong showing according to Maryanne Howell, WGA executive director.
During a keynote address at the Washington Glass Association’s May 6 virtual conference, Nicole Harris, NGA president and CEO, offered a state of the glass and glazing industry with an in-depth look at current market conditions, glass product trends and top challenges for industry companies. The WGA proudly announced record contributions to its scholarship fund and strong interest in its first golf tournament since the pandemic, scheduled for September. The Zoom meeting drew 68 member participants, a strong showing according to Maryanne Howell, WGA executive director.
The Dodge Momentum Index posted an 8.6% gain in April, climbing to 162.4 (2000=100) from the revised reading of 149.5 in March. The Momentum Index, issued by Dodge Data & Analytics, 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. April’s gain marks the fifth consecutive monthly increase, and similar to February and March, was due to a large increase in institutional buildings entering the planning stage while commercial planning eased by less than one percent.
Since hitting its nine-year low in January, institutional planning has rebounded substantially, climbing 77% over the last three months.
Published May 11, 2021 Karen Ducey via Getty Images
This story is part of a series of articles looking at the COVID-19 pandemic s effect on the construction industry and how an expected rebound in construction work later this year could be slowed by a variety of forces. Click here for other articles in the series and check back for more throughout the year.
Dive Brief:
The future of construction in 2022 looks bright, especially in the institutional sector, but contractors will have to overcome a multitude of challenges to enjoy it, based on two bellwether construction reports issued last week.
The Dodge Momentum Index, which rose 8.6% in April, is now at a 12-year high, led by a 77% climb in the institutional category over the last three months. But that positive, which gauges the initial planning of projects and usually precedes actual construction spending by 12 months, was countered by current challenges of soaring mat
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