Dodge Momentum rises slightly in November
The Dodge Momentum Index moved 0.3 percent higher in November to 133.2 from its revised October reading of 132.7, reports Dodge Data & Analytics.
The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
According to Dodge Data & Analytics, the overall index has posted increases in 10 of the past 12 months and stands 18 percent higher than its November 2015 reading.
The slight increase in November was due to a 4.1 percent rise in the commercial building component. Despite this, the institutional component slipped 5.2 percent in November. Institutional planning is currently 2 percent lower than last year, while commercial planning stands 35 percent above the 2015 numbers.
Seven projects entered planning with a value that exceeded $100 million in November, Dodge Data & Analytics reports. The leading commercial projects are a $400 million office building in Chicago and a $180 million hotel expansion and renovation in New York. The leading institutional projects included a $155 million hospital in Rochester, New York, and a $100 million hospital and research lab in Bethesda, Maryland.
Dodge Data & Analytics is a technology-driven construction project data, analytics and insights provider.
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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