The Dodge Momentum Index moved 6.0% lower in April to 135.9 (2000=100) from the revised March reading of 144.5.
Both components of the Momentum Index pulled back during the month - the commercial component fell 7.6%, while the institutional component dropped 3.2%.
COVID-19 (Coronavirus) had a significant negative impact on the economy in April, touching virtually all sectors - including construction. Planning activity clearly downshifted, although that downshift has not been fully realized in the published index since the Momentum Index is a three-month moving average. This sets the stage for an even weaker reading when the May data is released in June.