![A large drop in institutional building led the decline in the July Dodge Momentum Index.](https://img.forconstructionpros.com/files/base/acbm/fcp/image/2019/08/Screen_Shot_2019_08_08_at_10.14.54_AM.5d4c3d39e273f.png?auto=format%2Ccompress&fit=crop&h=288&q=70&rect=15%2C0%2C398%2C224&w=512)
Dodge Data & Analytics
After peaking in July 2018, the Momentum Index has generally receded, with the latest month’s drop consistent with that trend. Compared to a year ago, the Momentum Index in July 2019 was down 11.6%, with its commercial segment down a steep 17.4% while its institutional segment was down a relatively modest 1.8%. Much of the decline for the Momentum Index over the past year took place during the latter half of 2018, as December was reported 10.6% below the July 2018 peak. Since then, the descent for the Momentum Index has been more gradual, with the July 2019 reading down just 1.2% from last December.
In July, there were 13 projects each with a value of $100 million or more that entered planning, made up of nine commercial projects and four institutional projects. The leading commercial projects were a $370 million warehouse and cargo facility at the Anchorage, AK, International Airport and a $290 million mall redevelopment in Raleigh, NC. The leading institutional projects were both healthcare facilities — a $230 million hospital in Albuquerque, NM, and a $200 million hospital in Pensacola, FL.