NEW YORK – November 7, 2017 – The Dodge Momentum Index rose in October, climbing 13.2% to 130.9 (2000=100) from the revised September reading of 115.6. 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 move higher in October nearly reversed the erosion of the past four months (including September’s 7.9% decline), with October posting healthy gains in both sectors. From September to October the commercial portion of the Momentum Index advanced 16.8%, while the institutional portion grew 8.3%. On a year-over-year basis, the Momentum Index is now 6.1% higher, with the commercial portion up 5.5% and the institutional portion up 6.9%. October’s increase supports the belief that building activity has further room to grow during this cycle. While month-to-month activity could continue to be volatile, there are enough projects in the pipeline to sustain growth into 2018.
In October, 20 projects each with a value of $100 million or more entered planning. For the commercial building sector, the leading projects were a pair of Facebook data centers in Sandston VA valued at $400 million and $200 million respectively. The leading institutional projects were a $480 million hospital in Dallas TX and a $160 million hospital tower in Seattle WA.
: 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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Greg Gies | Dodge Data & Analytics | Director Product Marketing | firstname.lastname@example.org
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