The Dodge Momentum Index rose 4.7% in January to 157.7 (2000=100) from the revised December reading of 150.6. The Momentum Index, issued by Dodge Data & Analytics, 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. Januarys increase reflected similar gains for the two components of the Momentum Index “ institutional building, up 5.0%; and commercial building, up 4.6%.
The January increase essentially reverses Decembers decline, and brings the overall Momentum Index back to Novembers level. Januarys reading is also consistent with the monthly average for the second half of 2018, and just slightly below the current expansions high mark set in July 2018. Notably, however, the commercial component remains below the highs set during the summer of 2018, while the institutional component has gained traction as public funding for projects such as schools and transportation terminals remains supportive.
In January, nine projects each with a value of $100 million or more entered planning. The leading commercial building projects were two $300 million CloudHQ data centers in Ashburn VA. The leading institutional building projects were a $235 million arena renovation project in Phoenix AZ and a $140 million academic building at the University of North Carolina in Chapel Hill NC.
About Dodge Data & Analytics: Dodge Data & Analytics is North Americas 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 its 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 companys 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.
Media: Nicole Sullivan | AFFECT Public Relations & Social Media |