NEW YORK – December 7, 2015 – The Dodge Momentum Index
fell 3.7% in November to 119.9 (2000=100) from its October reading of 124.5.
The Momentum Index is a monthly measure of the first (orinitial) report for
nonresidential building projects in planning, which have been shown to lead
construction spending for nonresidential buildings by a full year. Previously,
the Index had posted large month-to-month increases in July (+4.6%) and
September (+4.9%). The loss of momentum seen in October and again in November
is returning the Index to a level that’s more consistent with the gentle upward
trend in planning activity that began in 2012. The decline in November for the
overall Index was the result of a 10.2% slide in commercial planning activity,
while projects entering planning in the institutional sector increased by 5.3%.
There were a total of seven projects entering planning in
November, each with a value that exceeded $100million. For the commercial
building sector, the leading projects were a $160 million office building in
Boston MA and a $130 million retail project in Somerville MA. For the
institutional building sector, the leading projects were a $325 million
alteration of the American Museum of Natural History in New York NY and a $238
million hospital in Chula Vista CA.
Source: Construciton.com
No comments:
Post a Comment