Dodge Momentum Index falls in June
The Dodge Momentum Index dropped to 118.3 in June, down 1.3 percent from 119.9 in May, reports Dodge Data & Analytics. The Dodge Momentum Index is a monthly measure of the first, or initial, report for nonresidential building projects in planning.
In June, commercial building decreased 2.6 percent. According to Dodge Data, the economic weakness in the first quarter has likely played a role in the lack of performance for this sector. Despite this, the institutional building sector rose .6 percent during the same time period.
In the commercial building sector, there were three projects that exceeded $100 million, including the $128 million Alexander Court office addition and renovation in Washington, D.C.; the $110 million Wharf InterContinental Hotel in Washington, D.C.; and a $108 million warehouse in Boiling Springs, Penn.
The Dodge Momentum Index in June 2015 reads 2.2 percent higher than the June 2014 Index.
Dodge Data & Analytics is a provider of data, analytics, news and intelligence serving the North American construction industry. The company’s information helps industry workers to size markets, prioritize prospects, target and build relationships, strengthen market positions, and optimize sales strategies.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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