The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6, according to Dodge Data & Analytics.
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 Momentum Index had declined in each of the previous three months, and the increase in October returns the index to the rising trend seen during the first half of this year.