Dodge Momentum Index Dips in September

NEW YORK, Oct. 7, 2014 /PRNewswire/ -- The Dodge Momentum Index fell in September, dropping to 115.8 (2000=100) for the month, down 0.7% from August's reading of 116.6 according to McGraw Hill Construction, a division of McGraw Hill Financial.  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.  After rising 13% during the first half of 2014, the Momentum Index declined in each of last three months, retreating a combined 7%.  Despite these setbacks, the Momentum Index remains 8% higher than a year ago, indicating that to this point the upward trend for nonresidential building projects at the planning stage is still present.

The September drop in the Momentum Index was the result diminished planning activity for its two main segments – commercial building, down 0.8%; and institutional building, down 0.4%.  While the commercial segment showed a slight decline, two notable projects of over $100 million in value entered planning during the month. They are a $500 million Resorts World Hotel and Casino in Las Vegas, NV and a $130 million hotel in New York, NY.

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About McGraw Hill Construction:
McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals' decisions. McGraw Hill Construction's data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record  – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare®, and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit www.construction.com.

About McGraw Hill Financial:
McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.

Media Contact:
Evelyn O'Neill, Marketing Communications:
McGraw Hill Construction, +1 212-904-3322, [email protected]

SOURCE McGraw Hill Construction

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