NEW YORK — March 6, 2015 — The Dodge Momentum Index
increased to 126.3 (2000=100) in February, a gain of 4.3% from January’s 121.1,
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. The Momentum Index has been exhibiting
somewhat of a saw-tooth pattern of late, up in December, down in January, and
now up in February. Despite the volatility that is sometimes visible in
planning data, the overall trend for the Index continues to be positive,
painting the picture of a broad-based yet still moderate recovery for
nonresidential building projects at the planning stage. The Index now stands
17% higher than one year ago.
The increase for the Momentum Index in February was due
to a rise in planning activity for both the commercial and institutional
sectors. The institutional sector increased 6.0%, while the commercial sector
rose by 3.3%. There were seven projects exceeding $100 million that entered
planning during the latest month, comprised of six commercial projects and one
institutional project. On the commercial side, these projects entered planning
— the $180 million Liberty Mutual Insurance Service Center Building in Plano
TX, a $145 million office tower and a $106 million hotel, both in Chicago IL, a $105 million warehouse in Bethlehem PA,
a $100 million hotel in Sarasota FL, and a $100 million hotel in Windsor CO. On
the institutional side, a $225 million public
safety complex in Philadelphia PA entered planning.
About Dodge Data & Analytics: Dodge Data &
Analytics is the leading provider of data, analytics, news and intelligence
serving the North American construction industry. The company’s information
enables building product manufacturers, general contractors and subcontractors,
architects and engineers to size markets, prioritize prospects, target and
build relationships, strengthen market positions, and optimize sales
strategies. The company’s brands include Dodge, Dodge MarketShare™, Dodge
BuildShare®, Dodge SpecShare®, Sweets, Architectural Record, and Engineering
News-Record. To learn more, visit www.construction.com.
Media Contact: Susan Peterson, Marketing, Dodge Data
& Analytics, +1-212-904-3669, susan.peterson@construction.com
No comments:
Post a Comment