NEW YORK – March 7, 2016 – The Dodge Momentum Index climbed 0.5% in February to 126.1 (2000=100) from its revised January reading of 125.5. 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 the third consecutive month-to-month gain for the Index, as a 1.0% pickup by commercial planning reports overcame a slight 0.1% decline by institutional planning. While commercial planning activity is still below the levels present throughout much of 2015, it has made a moderate recovery following the decline witnessed in late- 2015. Institutional planning, despite easing back in February, continues to be above last year’s levels due to the generally upward trend registered over the course of 2015.
In February, seven projects entered planning with a value that exceeded $100 million. For the commercial building sector, the leading projects were a $190 million office renovation in New York NY, a $140 million hotel and casino in Gulfport MS, and a $129 million mixed-use project in Long Island City NY. For the institutional building sector, the leading projects were a $500 million medical complex in Indianapolis IN and a $180 million hospital in Valhalla NY.
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. 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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