NEW YORK – June 5, 2015 – The Dodge Momentum Index held
steady at 122.3 (2000=100) in May, 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 rising
over the course of 2014, the Index thus far in 2015 has been basically flat,
consistent with other measures highlighting sluggish economic conditions. Even
with this near term pause, the Index in May was still up 6.1% compared to the
same month a year ago. Several factors are expected to help the Index move
beyond its current plateau and regain an upward track later in 2015, including
further improvement by market fundamentals for commercial real estate and the
increased funding support for construction projects coming from state and local
governments.
In May, planning activity by sector was varied, with
institutional building climbing 3.1% while commercial building fell 2.2%.
Within the institutional sector there were eight projects that exceeded $100
million, including the $466 million Vassar Brothers Medical Center Pavilion in
Poughkeepsie NY and the $400 million Covenant Medical Center Tower in Lubbock
TX. There were six commercial projects in May valued at over $100 million,
including a $300 million warehouse and distribution center in Kearny NJ and a
$113 million retail center in Sarasota FL.
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
Source: Construction.com
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