NEW YORK – June 7, 2017 – Following a dip in April, the Dodge Momentum Index advanced 4.0% in May to 139.1 (2000=100) from its revised April reading of 133.7. 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. In May, the commercial component of the Momentum Index increased 4.8% to an eight-and-a-half year high, which suggests that construction activity for commercial buildings will continue to rise over the next year, even with signs of decelerating improvement in market fundamentals (occupancies and rents). The institutional component of the Momentum Index rose 2.9% in May, making a partial rebound after pulling back 12.0% in April. During this year’s first quarter, the institutional component had re-established its often hesitant upward trend, with March up 21% compared to the end of 2016. May’s moderate gain, following the April retreat, provides evidence that the upward trend for the institutional sector remains underway.
In May, six projects entered planning each with a value of $100 million or more. For the commercial building sector, the leading projects were the $245 million Camden Partners office tower in Camden NJ and the $140 million first phase of the Gateway of the Pacific office complex in San Francisco CA. The leading institutional building project was a $100 million detention center in Conroe TX.
: Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting & analytics services and 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 that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, size growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its more than 125-year-old legacy of continuous innovation to help the industry meet the building challenges of the future. Learn more at www.construction.com.
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Greg Gies | Dodge Data & Analytics | Director Product Marketing | firstname.lastname@example.org
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