NEW YORK – February 5, 2016 – The Dodge Momentum Index rose 2.4% in January to 126.4 (2000=100) from its December reading of 123.4. 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 increase in January was the result of a 3.3% increase in institutional projects, and a 1.6% increase in commercial projects. On a year-over-year basis, the overall Index is 1.7% higher even though the commercial portion is down 6.8%. Commercial planning intentions started 2015 on an aggressive note before settling back by mid-year. Over the most recent few months commercial planning has been following a saw tooth pattern, but the overall trend has been positive as most commercial real estate fundamentals are improving. The institutional index on the other hand started 2015 on a weak note, but improved throughout the year and is now 14.0% higher than one year ago.
In January, 10 projects entered planning with a value that exceeded $100 million. For the commercial building sector, the leading projects were a $270 million convention center hotel in San Diego CA and a $140 million office and retail building in Atlanta, GA. For the institutional building sector, the leading projects were a $160 million renovation and addition at a USDA lab in Athens GA and a $150 million hospital expansion in Corpus Christi TX.
: 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, size growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its more than 125-year-old legacy of continuous innovation to help the industry meet the building challenges of the future. Learn more at www.construction.com.
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