Dodge Momentum Index surges in December, in 2016
The Dodge Momentum Index rose 2.9 percent in December 2016 to 136.7 from its revised November reading of 132.8, reports Dodge Data & Analytics.
This increase was mainly caused by a 5.7 percent increase in the commercial sector, which more than offset a 1.7 percent drop in the institutional sector.
In December, eight projects entered planning each with a value that exceeded $100 million. For the commercial building sector, the leading projects were a $400 million mixed-use building in Atlanta and a $351 million office tower in San Francisco. For the institutional building sector, the top projects included a $140 million renovation to the Quicken Loans Arena in Cleveland and a $130 million high school in Sherman, Texas.
According to Dodge Data & Analytics, after trending upward over the course of 2016, the Dodge Momentum Index is now at an eight-year high, although still more than 25 percent below its previous peak reached at the end of 2007. In addition, after ending 2015 in a lull, commercial planning intentions posted remarkable strength in 2016, climbing 38 percent over the year. Institutional planning also dropped 6 percent after a strong 2015, Dodge Data & Analytics adds.
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. Dodge Data & Analytics is a technology-driven construction project data, analytics and insights provider that provides information for construction professionals to grow their businesses.
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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