NEW YORK - May 6, 2016 - The Dodge Momentum Index rose
0.6% in April to 116.5 from its revised March reading of 115.8 (2000=100). 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. April’s gain
was due to increased planning activity for both commercial and institutional
building, with commercial planning moving 0.8% higher and institutional
planning rising 0.4%. Over the last eight months institutional planning has
been on somewhat of a roller coaster ride – making impressive gains through
early 2016 before falling 16% last month. With April’s slight gain,
institutional planning is now 7% above its year-ago level, which suggests that
despite volatility on a month-to-month basis the sector’s recovery is
continuing. The overall Index is essentially even with its April 2015 level,
due to a subdued pace for commercial planning relative to a year ago.
In April, six projects entered planning with a value that
exceeded $100 million. For the commercial building sector, the leading projects
were a $225 million hotel in Anaheim CA and a $200 million warehouse in Jacksonville
FL. For the institutional building sector, the leading projects were a $500
million expansion to the Los Angeles County Museum of Art in Los Angeles CA and
a $163 million outpatient health center in Tahlequah OK.
Source: Construcrtion.com
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