NEW YORK – March 7, 2017 – The Dodge Momentum Index rose 1.6% in February to 144.0 (2000=100) from its revised January reading of 141.7. 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. February’s increase was due to a 4.4% jump in institutional planning, while commercial planning slipped slightly, falling 0.3% for the month. The Momentum Index has now increased for five consecutive months; however, the underlying components continue to be volatile on a month-to-month basis as large projects continue to sway the data. The overall trend, however, is rising. On a year-over-year basis the Momentum Index is 22% higher, with commercial planning up 28% and institutional planning moving 15% ahead of last year. This suggests that construction activity will continue to see further growth as the year progresses.
In February, four projects entered planning each with a value that exceeded $100 million. For the institutional building sector, the leading projects were a $100 million hospital in Westampton NJ and a $100 million military barracks in Great Lakes IL. The leading commercial projects were a $470 million hotel in Nashville TN and a $130 million hotel and shopping center in La Puente CA.
: 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.
: Benjamin Gorelick | Spector & Associates +1-212-943-5858, firstname.lastname@example.org
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