Dodge Momentum Index shows improvement in January

By |  February 5, 2016

Dodge-Data-Analytics-LogoThe January Dodge Momentum Index rose 2.4 percent to 126.4 from its December reading of 123.4, reports Dodge Data & Analytics.

According to Dodge Data, the increase in January was a result of a 3.3 percent increase in institutional projects and a 1.6 percent increase in commercial projects. During that month, 10 projects entered planning with a value that exceeded $100 million. The leading projects for the commercial building sector were a $270 million convention center hotel in San Diego and a $140 million office and retail building in Atlanta. The leading projects in the institutional sector were a $160 million renovation and addition at a U.S. Department of Agriculture lab in Athens, Ga., and a $150 million hospital expansion in Corpus Christi, Texas.

On a year-to-year basis, the overall index is 1.7 percent higher, even though the commercial sector is down 6.8 percent, reports Dodge Data. Commercial planning intentions started on an aggressive note in 2015 before settling back mid-year. Dodge Data adds that the overall trend in commercial planning has been positive as most commercial real estate fundamentals are improving. The institutional index started on a weak note in 2015, but improved throughout the year and is now 14 percent higher than one year ago.

The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning. Dodge Data & Analytics provides data, analytics, news and intelligence for the North American construction industry.

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