The Dodge Momentum Index fell 3.7% in November, following October’s decline. The index measures nonresidential building projects entering the planning stage, which lead construction spending by a full year. The November decline came entirely from a 10.2% decline in commercial building planning activity. Seven projects entering planning during the month exceeded $100 million. The leading commercial projects were a $160-million office building in Boston and a $130-million retail job in Somerville, Mass. The largest institutional projects were a $325-million museum alteration in New York City and a $328- million hospital in California.
Construction Momentum Slows in November
December 16, 2015