Dodge Momentum Index reports gains in July
The Dodge Momentum Index rose to 125.3 in July, according to Dodge Data & Analytics, which is up 5.4 percent from 118.9 in June. The Momentum Index is a monthly measure of the first report for nonresidential building projects in planning.
Improving real estate market fundamentals in the commercial sector, as well as increased bond-related funding for institutional projects should continue to raise the Index through the rest of 2015, reports Dodge Data. Additionally, the Index increase in July can be attributed to a 6 percent increase in institutional planning and a 4.9 percent increase in commercial planning.
A total of 13 projects entered planning in July with a value exceeding $100 million – seven commercial projects and six institutional projects. For the commercial building sector, a $200 million Wal-Mart in Davenport, Fla., and a $200 million office building in Washington, D.C., entered planning. In the institutional building sector, a $350 million Las Vegas Convention Center expansion entered planning, as well as a $188 million high school remodel in Snoqualmie, Wash.
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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