Dodge Momentum Index rises in April
The Dodge Momentum Index rose 0.6 percent in April to 116.5 from its revised March reading of 115.8.
According to Dodge Data & Analytics, April’s gain was due to increased planning activity for both commercial and institutional building, with commercial planning rising 0.8 percent and institutional planning rising .4 percent.
In April, six projects entered planning with a value that exceeded $100 million. The leading projects in the commercial building sector were a $225 million hotel in Anaheim, Calif., and a $200 million warehouse in Jacksonville, Fla. The leading projects in the institutional building sector were a $500 million expansion to the Los Angeles County Museum of Art in Los Angeles and a $163 million outpatient health center in Tahlequah, Okla.
According to Dodge Data & Analytics, institutional planning made significant gains through early 2016 before falling 16 percent last month. In addition, Dodge Data & Analytics says the index is essentially even with its April 2015 level, due to a subdued pace for commercial planning relative to a year ago.
The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. Dodge Data & Analytics is a provider of data, analytics, news and intelligence serving the North American construction industry.
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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