NEW YORK – June 7, 2019 – The Dodge Momentum Index fell 1.0% in May to 141.0 (2000=100) from the revised April reading of 142.4. The Momentum Index, issued by Dodge Data & Analytics, 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 May decline for the Momentum Index was due entirely to a 6.9% drop by its commercial component, as its institutional component rose 8.1%.
The Momentum Index continues to settle back from the most recent highs achieved last summer. On a year-over-year basis, the Momentum Index in May was 9.2% lower than a year ago, with a 16.0% drop by its commercial component outweighing a 1.8% gain by its institutional component. Although the trend for the overall Momentum Index is downward, so far the pullback has been measured, suggesting that there remains enough nonresidential building projects in the pipeline to support near term stability for construction activity. This is particularly true for the institutional side of nonresidential building.
In May, there were 14 projects each with a value of $100 million or more that entered planning. The leading commercial projects were a $500 million office building in the Bronx NY and the $300 million second phase of the Iceberg Towers in Burbank CA. The leading institutional projects were the $250 million second phase of the Kaiser Permanente Hospital in Sacramento CA and the $150 million Moffitt Cancer Center Hospital in Tampa FL.
Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting & analytics services and 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 that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, seize growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry.
As of April 15th, Dodge Data & Analytics and The Blue Book -- the largest, most active network in the U.S. commercial construction industry -- combined their businesses in a merger. The Blue Book Network delivers three unparalleled databases of companies, projects, and people.
Dodge and The Blue Book offer 10+ billion data elements and 14+ million project and document searches. Together, they provide a unified approach for new business generation, business planning, research, and marketing services users can leverage to find the best partners to complete projects and to engage with customers and prospects to promote projects, products, and services. To learn more, visit: construction.com and thebluebook.com.
Eric Becker | 104 West Partners | firstname.lastname@example.org
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