The Dodge Momentum Index climbed 0.5% in February, according to the latest index released by Dodge Data & Analytics. February’s increase was the third consecutive month-to-month gain for the index, as a 1.0% increase in commercial planning overcame a slight 0.1% decline in institutional planning. The index is a monthly measure of non-residential building projects entering the planning stage and has been shown to lead by a full year construction spending for non-residential buildings. In February, seven projects entered the planning stage, with each valued at more than $100 million. For the commercial building sector, the leading projects were a $190-million office renovation in New York City, a $140-million hotel and casino in Gulfport, Miss., and a $129-million mixed-use project in Long Island City, N.Y. The leading institutional building projects were a $500-million medical complex in Indianapolis and a $180-million hospital in Valhalla, N.Y.
Dodge Momentum Index Increases 0.5% During February
March 16, 2016