Dodge Momentum Index at highest mark in nearly four years

The Dodge Momentum Index, a monthly measure of the first report for nonresidential building projects in planning, rose 5.2 percent in April from the previous month, according to McGraw Hill Construction.

Gains have been reported for the momentum index in each of this year’s first four months. Since December 2012, the momentum index is up by 23 percent. The April increase brings the momentum index to 114.4 – the highest level since mid-2009.

According to McGraw Hill Construction, the April advance was largely the result of a strong upturn by its commercial segment. New plans for commercial buildings rose 8.5 percent in April, buttressed by several retail projects. Among the larger retail developments to enter planning in April were a new $71 million outlet center in Niagara Falls N.Y., and a $60 million shopping center in San Francisco.

The institutional segment in April showed a slight gain at 1.2 percent, as a decline in plans for new health care buildings offset a gain for education-related development.