{"id":1004546707,"date":"2021-08-09T05:03:19","date_gmt":"2021-08-09T13:03:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004546707"},"modified":"2022-12-08T14:22:53","modified_gmt":"2022-12-08T22:22:53","slug":"why-construction-continues-to-slow-down","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/why-construction-continues-to-slow-down\/","title":{"rendered":"Why Construction Continues to Slow Down"},"content":{"rendered":"
\"\"<\/a>

Chart courtesy of Dodge Data & Analytics<\/p><\/div>\n

The latest Dodge Momentum Index for July marked the second month of slowdowns for nonresidential construction planning. The Momentum Index from Dodge Data & Analytics dipped to 155.8 in July, a six percent decline from June\u2019s reading of 164.9.<\/p>\n

The index is Dodge Data\u2019s monthly measure of the first report of nonresidential building projects in planning, including commercial and institutional projects. According to the report, commercial planning saw a 3 percent decline and institutional planning fell 9 percent in July.\u00a0\u00a0<\/p>\n

\n

READ ALSO:<\/strong> Top 5 Markets for Industrial Construction<\/a><\/p>\n

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However, when looking at the year-over-year numbers, the report showed a strong recovery from last year when most of the construction sector was affected by the COVID-19 pandemic. This month\u2019s Momentum Index reading was 25 percent higher than July 2020\u2019s numbers<\/a>, with institutional planning up 27 percent and commercial planning also 25 percent higher year-over-year.<\/p>\n

According to the report, 11 projects valued at $100 million or more entered the planning stage during July. For the commercial side, Microsoft filed plans to build a $240 million data center in San Antonio, and Amazon is planning a $200 million fulfillment center in Woodburn, Ore. The leading institutional projects that are in planning include the $225 million Baptist Health Hardin Medical Pavilion in Elizabethtown, Ky., and the $200 million AdventHealth Narcoossee campus in Orlando, Fla.\u00a0\u00a0<\/p>\n

Potential hitch for construction sector recovery<\/strong><\/h2>\n

The six percent decline for July follows a five percent drop in the Momentum Index a month prior, after several months of positive momentum. In May, the Momentum Index had jumped<\/a> to 178.0 due to a surge in commercial planning. The Momentum Index saw strong gains through most of the winter and spring, with the economy and construction sector starting to stabilize.<\/p>\n

However, Dodge\u2019s latest report noted that the higher material prices and skilled labor shortage are having a strong impact on the construction sector and are unlikely to improve anytime soon. In addition, the new wave of COVID-19 cases caused by the Delta variant raises concerns about a stall in the recovery process for the construction sector.<\/p>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Nonresidential construction planning fell 6 percent in July, according to the Dodge Momentum Index. <\/p>\n","protected":false},"author":883,"featured_media":1004546708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,23891,21742],"tags":[48950,34401,34402],"class_list":["post-1004546707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-national","category-latest","tag-coronavirus","tag-dodge-data-analytics","tag-dodge-momentum-index"],"acf":[],"yoast_head":"\nWhy Construction Continues to Slow Down - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/why-construction-continues-to-slow-down\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Construction Continues to Slow Down\" \/>\n<meta property=\"og:description\" content=\"Nonresidential construction planning fell 6 percent in July, according to the Dodge Momentum Index.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/why-construction-continues-to-slow-down\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-09T13:03:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:22:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Construction-cranes.-Image-by-analogicus-via-Pixabay.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-construction-continues-to-slow-down\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/why-construction-continues-to-slow-down\/\",\"name\":\"Why Construction Continues to Slow Down - 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