NEW YORK – December 5, 2014 – The Dodge Momentum Index
increased in November, climbing to 125.0 (2000=100) for the month, up 0.6% from
October’s reading of 124.3 according to Dodge Data & Analytics. The
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. After
retreating from July through September, the Momentum Index has now registered
gains for two consecutive months, indicating that the nonresidential building
market continues to trend upward even with the occasional setback. The Momentum
Index is now 14% above the same month a year ago, and is at its highest level
since early 2009.
The November rise in the Momentum Index was the result of
greater planning activity in the commercial sector, which rose 4.0% for the
month. The increase for the overall Index was held back, however, by a 3.8%
drop in planning activity for the institutional sector. There were three
commercial building projects exceeding $100 million that entered into planning
during the month: the $232 million Bridgestone America Office Tower in
Nashville TN, a $200 million mixed-use development in Eatonville FL, and the
$100 million Turning Stone Retail & Entertainment Venue in Verona NY.
Source: Dodge
Data & Analytics
No comments:
Post a Comment