World News: 13:35 GMT Friday 7th December 2018. [Dodge Data & Analytics via Businesswire via SPi World News]
The Dodge Momentum Index moved 5.3% higher in November to 159.7 (2000=100) from the revised October reading of 151.7. 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. November’s gain was due to a 9.4% rebound for the commercial component of the Momentum Index. The recent setbacks in the overall Momentum Index were the result of declines in planning for commercial buildings, and while such planning did rebound in November, the level remains below what was reported in late spring and early summer. This is consistent with the view that the commercial building sector may now be nearing a peak. Meanwhile, the institutional component of the Momentum Index eased back 0.6% in November. Plans for institutional building projects have remained generally stable during 2018, reflecting the influence of public funding as it relates to such projects as schools and transportation terminals.
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Dodge Momentum Index (Graphic: Business Wire)
| Dodge Momentum Index |
|Dodge Momentum Index||159.7||151.7||5.3%|
|Source: Dodge Data & Analytics|
In November, 13 projects each with a value of $100 million or more entered planning. The two leading commercial projects were a $350 million hotel in Indianapolis IN and a $300 million office building in Chicago IL. The two leading institutional projects were a $320 million high school in Chino CA and a $240 million research laboratory in Long Island City NY.
About Dodge Data & Analytics: Dodge Data & Analytics is North America’s leading provider of analytics and software-based workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities and execute on those opportunities for enhanced business performance. Whether it’s on a local, regional or national level, Dodge makes the hidden obvious, empowering its clients to better understand their markets, uncover key relationships, size growth opportunities, and pursue those opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its 100-year-old legacy of continuous innovation to help the industry meet the building challenges of the future. To learn more, visit www.construction.com.
Business Wire: 13:35 GMT Friday 7th December 2018
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