NEW YORK – August 5, 2016 – The Dodge Momentum Index
moved slightly higher in July, increasing
0.5% to 134.7 (2000=100) from its
revised June reading of 134.1. 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. July’s modest rise follows a substantial increase in
June, which saw the Momentum Index climb 10.9% from the previous month. The Index
has now moved higher in four consecutive months, the first such string of
increases since late 2014. July’s improved pace was due to slight gains for
each of the two major sectors, with institutional planning up 0.7% and
commercial planning up 0.4%. The recent rise in the Index from April through
July suggests that planning for construction projects is progressing, albeit in
an uneven pattern, despite concerns over the subdued rate of economic growth.
In July, 11 projects entered planning with a value that
exceeded $100 million. For the commercial building sector, the leading projects
were a $200 million mixed-use project in Sugar Land TX and a $161 million
office in Fremont CA. The leading institutional projects were a $177 million
hospital tower in Chapel Hill NC and a $138 million hospital in Atlanta GA.
Source: Construciton.com
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