Dodge Momentum Index rises in 2015
The Dodge Momentum Index rose 4.1 percent in December to 125.2, according to Dodge Data & Analytics. The December numbers reversed a 3.6 percent decline that took place in November.
A 4.7 percent increase in institutional projects and a 3.6 percent increase in commercial projects took place in December. Institutional projects at the planning stage rose 15.8 percent in December 2015 compared with December 2014.
Ten key projects entered planning in December, each with a value exceeding $100 million. The leading projects in the commercial building sector were a $176 million warehouse in Shoemakersville, Pa., and a $160 million office project in Washington, D.C. The leading projects in the institutional sector were a $500 million renovation project at Lincoln Center in New York and a $300 million hospital project in St. George, Utah.
The index finished up 2.4 percent at the end of 2015 compared with 2014. Despite this, commercial projects fell 6.7 percent from 2014. According to Dodge Data, renewed growth in planning for the commercial sector is expected to take place in 2016, supported by a strong industry fundamentals such as vacancy rates and employment.
The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning.
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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