Construction Planning Gains Momentum as Dodge Index Rises 2.4%
The Dodge Momentum Index rose 2.4% in May, according to the latest release from Dodge Data & Analytics. The increase was due to a 6.5% gain for planning in the commercial sector, which offset a 3.4% decline in institution building plans. In May, six projects entered the planning stage with a value greater than $100 million each, including two warehouses in Staten Island, N.Y., totaling $445 million, and a $252-million neuroscience building at Stanford University. The index is a monthly measure of non-residential building projects entering the planning stage, which is a leading indicator of construction spending by a full year.