Momentum builds again for nonresidential projects

The Dodge Momentum Index, a monthly measure of the first report for nonresidential building projects in planning, rose in October to 125.5. That’s a 7.6-percent jump from October’s 116.6 reading, according to Dodge Data & Analytics.

The momentum index had declined in each of the previous three months. The October increase returns the index to the rising trend seen during the first half of this year, says Dodge Data & Analytics. The index now stands 18 percent above last year.

According to Dodge Data & Analytics, the October rise was the result of greater planning activity for its two main segments: institutional building, which is up 8.8 percent for the month; and commercial building, which is up 6.8 percent. There were six commercial building projects exceeding $100 million that entered into planning during the month, including the $200 million Potomac Yard Office Building in Alexandria, Va., and the $200 million Waterfront Office Development in Austin Texas.