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Construction Planning Falls After Brief Rebound

Article-Construction Planning Falls After Brief Rebound

Maruna Skoropadska/Alamy Stock Photo Black silhouette of a construction crane at dusk.
Banking insecurities in part caused the Dodge Momentum Index to tumble 8.6% last month.

The Dodge Momentum Index, a benchmark that measures nonresidential building planning, tumbled 8.6% in March as banking insecurity brought on by recent bank failures caused small banks to tighten lending standards, according to a Dodge Construction Network report.

The index typically leads actual construction spending by 12 months.

The decline follows a short-lived rebound in February, where the DMI showed signs that an economic soft landing remained possible for the construction industry.

For more information and to read key insights, visit Construction Dive, our sister publication, to read the original article.

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