Dodge Momentum Index grows 4 percent in May 2017
The Dodge Momentum Index grew 4 percent in May to 139.1, reports Dodge Data & Analytics.
The Dodge 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.
According to Dodge Data & Analytics, the commercial component of the Dodge Momentum Index increased 4.8 percent to an 8 1/2-year-high. This suggests construction activity for commercial buildings will continue to rise over the next year, Dodge Data says.
In addition, the institutional component of the Dodge Momentum Index rose 2.9 percent in May.
In May, six projects entered planning each with a value of $100 million or more. The leading projects in the commercial building sector include the $245 million Camden Partners office tower in Camden, New Jersey, and the $140 million first phase of the Gateway of the Pacific office complex in San Francisco. The leading project in the institutional building sector was a $100 million detention center in Conroe, Texas.
Dodge Data & Analytics provides analytics and software-based work flow integration solutions for the 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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