The dip follows Branch’s warning last month that starts were “likely to erode” from their previous highs, and in many cases, that is beginning to play out on a monthly basis.
The mixed monthly bag across different sectors in April led Branch to conclude that construction’s staying power could be temporary. The Dodge Momentum Index, which tracks projects entering the earliest stages of planning, is falling and “should lead to weaker starts in the second half of the year — especially for the private sector,” he said.
