Dodge Momentum Index Increases in October
NEW YORK – NEW YORK – November 10, 2014 – The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6 according to Dodge Data & Analytics. 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 had declined in each of the previous three months, and the increase in October returns the Index to the rising trend seen during the first half of this year. The Momentum Index now stands 18% above last year, which indicates that overall healthy economic growth is working its way through to the construction sector.
The October rise in the Momentum Index was the result of greater planning activity for its two main segments – institutional building, up 8.8% for the month; and commercial building, up 6.8%. There were six commercial building projects exceeding $100 million that entered into planning during the month: the $200 million Potomac Yard Office Building in Alexandria VA, the $200 million Waterfront Office Development in Austin TX, a $150 million warehouse in Eastvale CA, the $125 million Hudson Hotel in Philadelphia PA, a $100 million Phase 2 rehabilitation of the Constitution Gardens in Washington DC, and the $100 million Stadium Walk in Atlanta GA.
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About Dodge Data & Analytics: Dodge Data & Analytics is the leading provider of data, analytics, news and intelligence serving the North American construction industry. The company’s information enables building product manufacturers, general contractors and subcontractors, architects and engineers to size markets, prioritize prospects, target and build relationships, strengthen market positions, and optimize sales strategies. The company’s brands include Dodge, Dodge MarketShare™, Dodge BuildShare®, Dodge SpecShare®, Sweets, Architectural Record, and Engineering News-Record. To learn more, visit www.construction.com.
Media Contact: Evelyn O’Neill, Marketing Communications, Dodge Data & Analytics, +1 212-904-3322, firstname.lastname@example.org