by Calculated Risk on 9/11/2018 01:44:00 PM

From Dodge Data Analytics: Dodge Momentum Index Falters in August

The Dodge Momentum Index fell 2.9% in August to 164.1 (2000=100) from the revised July reading of 169.0. The Momentum Index 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.
emphasis added

Click on graph for larger image.

This graph shows the Dodge Momentum Index since 2002. The index was at 164.1 in August, down from 169.0 in July.

According to Dodge, this index leads "construction spending for nonresidential buildings by a full year". This index suggests further growth into 2019.