Dodge Momentum Index moves up in July 2018
Click to enlarge. Charts courtesy of Dodge Data & Analytics.
The Dodge Momentum Index increased 1.4 percent in July to 169.8 from the revised June reading of 167.3.
In July, the commercial component of the Dodge Momentum Index grew 3.3 percent, while the institutional component fell 1.5 percent. According to Dodge Data & Analytics, the headline Dodge Momentum Index has risen steadily since its slippage during the third quarter of 2017.
In July, 17 projects each with a value of $100 million or more entered planning. For the commercial sector, the two leading projects were a $295 million data enter in Sterling, Virginia, and a $225 million warehouse/office building in Ontario, Canada. For the institutional sector, the leading projects were the $325 million MUSC Health Community Hospital in Summersville, South Carolina, and the $150 million Texas Acute Care Hospital in Mansfield, Texas.
Stronger economic growth and the support from still-healthy real estate market fundamentals, including occupancies and rents, have contributed to these gains for construction projects at the planning stage, Dodge Data & Analytics reports.
The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning, which have shown to lead construction spending for nonresidential buildings by a full year.
Dodge Data & Analytics is a provider of analytics and software-based workflow 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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