The Dodge Momentum Index rose 0.6% in April but is essentially even with its April 2015 level, due to a subdued pace for commercial planning relative to a year ago. The Momentum Index is a monthly measure of the first report for non-residential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. With April’s slight gain, institutional planning is now 7% above its year-ago level, which suggests that, despite volatility on a month-to-month basis, the sector’s recovery is continuing. In April, six projects entered planning with a value that exceeded $100 million each. For the commercial building sector, the leading projects were a $225-million hotel in Anaheim, Calif., and a $200-million warehouse in Jacksonville, Fla. For the institutional building sector, the leading projects were a $500-million expansion to the Los Angeles County Museum of Art and a $163-million out- patient health center in Oklahoma.
Dodge Momentum Index Slows, With No Year-Over-Year Growth
May 11, 2016