Dodge Momentum Index Slipped Again in March

NEW YORK, April 7, 2014 /PRNewswire/ -- The Dodge Momentum Index retreated 0.8% in March compared to February, 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. The March Momentum Index came in at 113.8 (2000=100), down from a revised 114.8 in February and 118.3 in January. While the longer term trend is still viewed as positive, the Momentum Index appears to be experiencing a temporary pause. Uncertainty, perhaps related to the weak employment growth at the start of the year, is the likely contributor to this short-term unease.

Uncertainty weighed on both the commercial and institutional sides of the Momentum Index in March. New plans for commercial buildings fell 1.0%, as declines for offices and hotels offset an increase for retail buildings. Despite the pullback for offices, the most significant commercial building to enter the planning pipeline in March was the $250 million 6 Houston Center Office Building in Texas. New plans for institutional buildings dropped 0.7% in the latest month. A decline in the volume of education projects was only partially offset by the inclusion of two large amusement and healthcare-related developments – the $300 million E23 Casino and Hotel proposed in Albany NY and the $250 million Women and Children's Hospital slated for Lakeland FL.

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About McGraw Hill Construction:
McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals' decisions and strengthen their market position. 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:
Kathy Malangone, Senior Director, Communications:
McGraw Hill Construction, 212-904-4376, [email protected]

SOURCE McGraw Hill Construction

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