NEW JERSEY (Nov. 6, 2020)—The Dodge Momentum Index fell 1.8% in October to 127.5 from the revised September reading of 129.8. The Momentum Index, issued by Dodge Data & Analytics, 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.
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NEW JERSEY (November 10, 2020)—Dodge Data & Analytics released its 2021 Dodge Construction Outlook. The report predicts that total United States construction starts will increase 4% in 2021, to $771 billion.
NATIONAL—Skanska released a ninth-month report recording results from January through September 2020. The Swedish construction firm reported a decline in third-quarter profits of 29%, a number which beat earlier analyst expectations for the quarter. The company recorded an operating profit of $174.3 million, or 1.53 billion Swedish krona.
WATSONVILLE, California-—Granite Construction Incorporated provided a business update and third quarter 2020 preliminary select financial information.
WASHINGTON (November 10, 2020)—Associated Builders and Contractors reported that its Construction Backlog Indicator rebounded to 7.7 months in October, an increase of 0.2 months from September’s reading, according to an ABC member survey conducted from October 20 to November 5. Backlog is 1.2 months lower than in October 2019.
NATIONAL (Nov. 6, 2020)—Construction employment increased by 84,000 jobs in October, with jobs added in both nonresidential and residential categories, according to an analysis by the Associated General Contractors of America of government data.
WASHINGTON (November 3, 2020)—Commercial and multifamily mortgage loan originations were 47% lower in the third quarter compared to a year ago, and increased 12% from the second quarter of 2020, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
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LOS ANGELES—Tutor Perini Corporation reported results for the third quarter of 2020. Revenue was $1.4 billion, the highest revenue of any quarter in more than 10 years and up 21% compared to $1.2 billion for the third quarter of last year. The company experienced double-digit revenue growth across all segments with only an immaterial impact from the COVID-19 pandemic in the third quarter of 2020.