NEW YORK – January 8, 2016 – The Dodge Momentum Index rose 4.1% in December to 125.2 (2000=100) from its November reading of 120.3, essentially reversing the 3.6% decline that took place in November. 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 December rise in the Index was fairly evenly spread between a 4.7% increase for institutional projects and a 3.6% increase for commercial projects. On a year-over-year basis, the Index finished 2015 up 2.4% from its reading at the end of 2014. The year-over-year change for the Index was dampened by a 6.7% decline for commercial projects, as this sector settled back to a more sustainable pace after surging 26.4% over the course of 2014. Renewed growth in planning activity for the commercial sector is expected to take place in 2016, supported by strong industry fundamentals such as vacancy rates and employment. Institutional projects at the planning stage jumped 15.8% in December compared to the same month a year ago, helped by the passage of recent construction bond measures and the improved fiscal health of state and local governments.
There were a total of 10 projects entering planning in December, each with a value that exceeded $100 million. For the commercial building sector, the leading projects were a $176 million warehouse in Shoemakersville PA and a $160 million office project in Washington DC. For the institutional building sector, the leading projects were a $500 million renovation project at Lincoln Center in New York NY and a $300 million hospital project in St. George UT.
Dodge Construction Network leverages an unmatched offering of data, analytics, and industry-spanning relationships to generate the most powerful source of information, knowledge, insights, and connections in the commercial construction industry.
The company powers four longstanding and trusted industry solutions—Dodge Data & Analytics, The Blue Book Network, Sweets, and IMS—to connect the dots across the entire commercial construction ecosystem.
Together, these solutions provide clear and actionable opportunities for both small teams and enterprise firms. Purpose-built to streamline the complicated, Dodge Construction Network ensures that construction professionals have the information they need to build successful businesses and thriving communities. With over a century of industry experience, Dodge Construction Network is the catalyst for modern commercial construction. To learn more, visit construction.com
Cailey Henderson | 104 West Partners | firstname.lastname@example.org
Sign up for any of our e-newsletters and receive key insights and industry trends
Thank you for your submission. You are now subscribed.
Call Dodge today at: 1-877-784-9556
Fill out the form below to get the information on Dodge Construction Central
Thank you for your interest. We will reach out to you shortly.