Dodge Momentum Index rises in November 2018
The Dodge Momentum Index moved 5.3 percent higher in November. Charts courtesy of Dodge Data & Analytics. (Click to enlarge.)
The Dodge Momentum Index moved 5.3 percent higher in November to 159.7 from the revised October reading of 151.7, reports Dodge Data & Analytics.
According to Dodge Data & Analytics, November’s gain was due to a 9.4 percent rebound for the commercial component of the Dodge Momentum Index. However, the recent setbacks in the overall index can be attributed to declines in planning for commercial buildings.
In addition, the institutional component of the Dodge Momentum Index fell 0.6 percent in November. Plans for institutional building projects projects have remained generally stable during 2018, reflecting the influence of public funding as it relates to such projects as schools and transportation terminals, Dodge Data & Analytics adds.
In November, 13 projects each with a value of $100 million or more entered planning. The two leading commercial projects were a $350 million hotel in Indianapolis and a $300 million office building in Chicago. The two leading institutional projects were a $320 million high school in Chino, California, and a $240 million research laboratory in Long Island City, New York.
Dodge Data & Analytics is a North American provider of analytics and software-based workflow integration solutions for the construction industry. 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.
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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