Dodge Momentum Index Springs Forward in March
NEW YORK, April 7, 2017 /PRNewswire/ -- The Dodge Momentum Index increased by 0.9% in March to 144.4 (2000=100) from its revised February reading of 143.2. 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 Momentum Index has now risen for six consecutive months, with much of the gain being driven by institutional projects entering planning while commercial projects so far in 2017 have receded slightly. The institutional portion of the Momentum Index rose 3.7% in March, and is 23.0% higher than the end of 2016. Commercial planning meanwhile fell 1.2% in March and is down 2.9% from December 2016. However, the overall Momentum Index, as well as the commercial and institutional components, are well above their year-ago levels. This continues to signal the potential for increased construction activity in 2017 despite the short-term setbacks that are inherent in the volatile month-to-month planning data.
In March, eight projects entered planning each with a value that exceeded $100 million. For the commercial building sector, the leading projects were the $200 million Universal Orlando Resort in Orlando FL and a $150 million office building in Clayton MO. The leading institutional project was a $500 million medical complex in Chicago IL.
| Dodge Momentum Index |
||||||
| Mar-17 |
Feb-17 |
% Change |
||||
| Dodge Momentum Index |
144.4 |
143.2 |
0.9% |
|||
| Commercial Building |
149.4 |
151.1 |
-1.2% |
|||
| Institutional Building |
138.3 |
133.3 |
3.7% |
|||
| Source: Dodge Data & Analytics |
||||||
About Dodge Data & Analytics: Dodge Data & Analytics is a technology-driven construction project data, analytics and insights provider. Dodge provides trusted market intelligence that helps construction professionals grow their business, and is redefining and recreating the business tools and processes on which the industry relies. Dodge is creating an integrated platform that unifies and simplifies the design, bid and build process, bringing data on people, projects and products into a single hub for the entire industry, from building product manufacturers to contractors and specialty trades to architects and engineers. The company's products include Dodge Global Network, Dodge PlanRoom, Dodge PipeLine, Dodge SpecShare, Dodge BuildShare, Dodge MarketShare, and the Sweets family of products. To learn more, visit www.construction.com.
Media Contact: Benjamin Gorelick | Spector & Associates +1-212-943-5858, [email protected]
SOURCE Dodge Data & Analytics
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