Dodge Momentum Index Stumbles in September
NEW YORK, Oct. 7, 2016 /PRNewswire/ -- The Dodge Momentum Index fell 4.3% in September to 129.0 from its revised August reading of 134.8 (2000=100). 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. The decline in September was the result of a 5.3% drop in institutional planning and a 3.6% decrease in commercial planning, retreating from the strong performance in August which benefitted from an influx of large projects ($100 million +) into planning. September's decline follows five consecutive months of gains for the Momentum Index, and resumes for now the saw-tooth pattern that's often been present in the data since 2014. Even with the recent volatility on a month-to-month basis, the Momentum Index continues to trend higher, signaling that developers have moved plans forward despite economic and political uncertainty. With the September release the Momentum Index is 5.1% higher than one year ago. The institutional component is 5.4% above its September 2015 reading, while the commercial component is up 4.9%.
In September, five projects entered planning each with a value that exceeded $100 million. For the commercial building sector, the leading projects were a $200 million office tower in Chicago IL and a $150 million JW Marriott Hotel in Irvine CA. The leading institutional projects were a $150 million hospital in Evanston WY and a $105 million hospital in Salt Lake City UT.
| "Dodge Momentum Index |
||||||
| Sep-16 |
Aug-16 |
% Change |
||||
| Dodge Momentum Index |
129.0 |
134.8 |
-4.3% |
|||
| Commercial Building |
135.5 |
140.6 |
-3.6% |
|||
| Institutional Building |
120.9 |
127.7 |
-5.3% |
|||
| Source: Dodge Data & Analytics |
||||||
Photo - http://photos.prnewswire.com/prnh/20161006/416132-INFO
About Dodge Data & Analytics: Dodge Data & Analytics is a technology-driven construction project data, analytics and insights provider. Dodge provides trusted market intelligence that helps construction professionals grow their business, and is redefining and recreating the business tools and processes on which the industry relies. Dodge is creating an integrated platform that unifies and simplifies the design, bid and build process, bringing data on people, projects and products into a single hub for the entire industry, from building product manufacturers to contractors and specialty trades to architects and engineers. The company's products include Dodge Global Network, Dodge SpecShare, Dodge BuildShare, Dodge MarketShare, and the ConstructionPoints and Sweets family of products. To learn more, visit www.construction.com.
Media Contact: Benjamin Gorelick | Spector & Associates +1-212-943-5858, [email protected]
Photo - http://photos.prnewswire.com/prnh/20161006/416132-INFO
Logo - http://photos.prnewswire.com/prnh/20141106/157045LOGO
SOURCE Dodge Data & Analytics
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