NEW YORK, April 6, 2018 /PRNewswire/ -- The Dodge Momentum Index moved 6.1% higher in March, rising to 155.0 (2000=100) from the revised February reading of 146.0. 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. March's gain was the result of a 9.6% increase in the commercial component – more than erasing the 5.1% decline it had seen the previous month. The gain in the institutional sector meanwhile was milder, moving 1.6% higher, following an 8.1% gain in February. During the first nine months of 2017, the overall Momentum Index made little progress. However, planning activity shot up in the fourth quarter, with that impetus continuing into the first three months of 2018. In the latest quarter the Momentum Index gained 5.1%. This may be a sign that planners are reacting in a positive fashion to the Tax Cuts and Jobs Act that President Trump signed at the end of December.
In March, six projects each with a value of $100 million or more entered planning. For the commercial sector the leading projects were a $179 million government office in Ashburn VA and a $155 million warehouse in Riverside CA. The leading institutional projects were a $210 million outpatient medical center in Torrance CA and a $105 million new federal courthouse in Columbia SC.
| Dodge Momentum Index |
||||||
| Mar-18 |
Feb-18 |
% Change |
||||
| Dodge Momentum Index |
155.0 |
146.0 |
6.1% |
|||
| Commercial Building |
163.6 |
149.3 |
9.6% |
|||
| Institutional Building |
144.3 |
142.0 |
1.6% |
|||
| Source: Dodge Data & Analytics |
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About Dodge Data & Analytics: Dodge Data & Analytics is North America's leading provider of analytics and software-based workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities and execute on those opportunities for enhanced business performance. Whether it's on a local, regional or national level, Dodge makes the hidden obvious, empowering its clients to better understand their markets, uncover key relationships, size growth opportunities, and pursue those opportunities with success. The company's construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its 100-year-old legacy of continuous innovation to help the industry meet the building challenges of the future. To learn more, visit www.construction.com.
Media Contact: Benjamin Gorelick | Spector & Associates +1-212-943-5858, [email protected]
SOURCE Dodge Data & Analytics
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