NEW YORK – June 7, 2017 – Following a dip in April, the Dodge Momentum Index advanced 4.0% in May to 139.1 (2000=100) from its revised April reading of 133.7. 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. In May, the commercial component of the Momentum Index increased 4.8% to an eight-and-a-half year high, which suggests that construction activity for commercial buildings will continue to rise over the next year, even with signs of decelerating improvement in market fundamentals (occupancies and rents). The institutional component of the Momentum Index rose 2.9% in May, making a partial rebound after pulling back 12.0% in April. During this year’s first quarter, the institutional component had re-established its often hesitant upward trend, with March up 21% compared to the end of 2016. May’s moderate gain, following the April retreat, provides evidence that the upward trend for the institutional sector remains underway.
In May, six projects entered planning each with a value of $100 million or more. For the commercial building sector, the leading projects were the $245 million Camden Partners office tower in Camden NJ and the $140 million first phase of the Gateway of the Pacific office complex in San Francisco CA. The leading institutional building project was a $100 million detention center in Conroe TX.
: Dodge Data & Analytics is a technology-driven construction project data, analytics and insights provider. Dodge provides trusted market intelligence that helps the construction industry and professionals grow their business, and is redefining and recreating the business tools and processes on which the industry relies. Dodge is creating an integrated platform that unifies and simplifies the design, bid and build process, bringing data on people, projects and products into a single hub for the entire industry, from building product manufacturers to contractors and specialty trades to architects and engineers. The company's products include Dodge Global Network, Dodge PlanRoom, Dodge PipeLine, Dodge SpecShare, Dodge BuildShare, Dodge MarketShare, and the Sweets family of products. To learn more, visit www.construction.com.
: Benjamin Gorelick | Spector & Associates +1-212-943-5858, email@example.com
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