Dodge Momentum Index dips in August 2018

By |  September 10, 2018
Chart courtesy of Dodge Data & Analytics.

Chart courtesy of Dodge Data & Analytics.

The Dodge Momentum Index dropped 2.9 percent in August to 164.1 from the revised July reading of 169.0, according to Dodge Data & Analytics.

In August, the commercial component of the momentum index dropped 6.1 percent from July, differing from previous growth of 25 percent from January to July of this year.

However, while the commercial component did drop in August, the institutional component improved 2.5 percent. The institutional component has been on a positive trajectory this year, increasing 11 percent from January to July of this year.

Nine projects each with a value of $100 million or more entered planning in August. The two leading commercial projects were the $250 million renovation of the flagship Tiffany & Co. store on Fifth Avenue in New York and a $140 million office building in Stockton, California. The leading institutional projects were the $450 million Rush University Outpatient Center in Chicago and the $265 million Children’s Hospital of Wisconsin in Wauwatosa, Wisconsin.

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.

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