Dodge Momentum Index Stumbles in July
NEW YORK, Aug. 7, 2017 /PRNewswire/ -- The Dodge Momentum Index fell in July, dropping 3.3% to 135.0 (2000=100) from its revised June reading of 139.6. 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 move lower in July was due to a 6.6% decline in the institutional component of the Momentum Index, while the commercial component fell 1.1%. This month continues a recent trend of volatility in the Momentum Index where a string of gains is interrupted by a step backwards in planning intentions. Despite the decline from June to July, the Momentum Index is 6.9% higher than one year ago, which suggests further moderate gains in construction activity throughout the year. The commercial component of the Momentum Index is 8.0% higher than last year, while the Institutional component is 5.3% higher.
In July, nine projects entered planning each with a value of $100 million or more. For the institutional building sector, the leading projects were the $200 million Kaiser Permanente Medical Center in Woodbridge VA and the $200 million phase 2B of the Thompson Education Center in Rocky Hill NY. The leading commercial building projects were a $177 million Amazon fulfillment center in North Randall OH and the $170 million Pala Casino and Resort in Pala CA.
| Dodge Momentum Index |
||||||
| Jul-17 |
Jun-17 |
|||||
| Dodge Momentum Index |
135.0 |
139.6 |
-3.3% |
|||
| Commercial Building |
148.2 |
149.9 |
-1.1% |
|||
| Institutional Building |
118.7 |
127.0 |
-6.6% |
|||
| Source: Dodge Data & Analytics |
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About Dodge Data & Analytics: Dodge Data & Analytics is North America's leading provider of analytics and software-based workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities and execute on those opportunities for enhanced business performance. Whether it's on a local, regional or national level, Dodge makes the hidden obvious, empowering its clients to better understand their markets, uncover key relationships, size growth opportunities, and pursue those opportunities with success. The company's construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its 100-year-old legacy of continuous innovation to help the industry meet the building challenges of the future. 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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