NEW YORK – October 7, 2015 – The Dodge Momentum Index
moved 5.8% higher in September to 133.5 (2000=100) from its August reading of
126.2. 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 impetus
behind September’s gain was a 12.0% increase from the previous month in
institutional building planning. State and local budgets, which finance many
projects in the institutional category, continue to recover from their
recessionary weakness. With this support, planning for new institutional
buildings has trended upward over the past year, although in a saw-tooth
pattern. Commercial construction, on the other hand, is at a more mature stage
of its recovery and planning has been relatively more stable. Planning in the
commercial category increased 1.8% in September.
There were a total of eight projects entering planning in
September with a value that exceeded $100 million, split equally between
commercial and institutional projects. In the commercial building sector, a
$330 million office building for Fannie Mae in Washington DC and a $150 million
alteration of an office complex in Plano TX entered planning. Within the
institutional building sector, a $400 million hospital in Rockford IL and a
$230 million clinic addition in Weston FL entered planning.
Source: DODGE
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