NEW YORK – February 7, 2017 – The Dodge Momentum Index rose 3.9% in January to 142.6 (2000=100) from its revised December reading of 137.3. 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 industry spending for nonresidential buildings by a full year. The move higher in January was due to a 12.1% increase in institutional planning outweighing a 1.0% decline in commercial planning intentions. Despite the decline in commercial planning in January, that portion of the Momentum Index remains near its eight-year high, and suggests that commercial building will see renewed strength in 2017. Institutional planning meanwhile has been subject to volatility over the past two years, as the presence or absence of large projects in healthcare, recreation, and transportation terminals have swayed that portion of the Momentum Index. However, institutional planning projects trended higher through the end of 2016, which provides some optimism for institutional building activity in 2017.
In January, 11 projects entered planning each with a value that exceeded $100 million. For the commercial building sector, the leading construction projects were a $278 million mixed-use building in New York NY and a $180 million hotel and casino in Porterville CA. The leading institutional projects were a $192 million Department of Veterans Affairs medical center in Reno NV and a $145 million medical tower in Hackensack NJ.
: 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.somethingwhimsy.com.
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