Dodge Momentum Index Dips in April
NEW YORK--(BUSINESS WIRE)--May 7, 2019--The Dodge Momentum Index fell 0.5% in April to 144.3 (2000=100) from the revised March reading of 145.1. 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. The retreat in April was the result of the commercial component falling 1.0% while the institutional component rose a scant 0.2%.
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Dodge Momentum Index (Graphic: Business Wire)
The Momentum Index has clearly lost some impetus over the last twelve months. The overall Momentum Index is down 8.5% since April 2018, with the commercial component 4.7% lower and the institutional component 13.9% lower. However, over the past several months the Momentum Index has moved in a crab-like fashion with neither strong gains or losses. This suggests that there continues to be a reasonably healthy number of projects in the planning pipeline to support a moderate level of construction activity in the coming months.
In April, 18 projects each with a value of $100 million or more entered planning. The leading commercial projects were a $418 million Microsoft data center in Des Moines IA and a $300 million warehouse in Staten Island NY. The leading institutional projects were a $300 million hospital in New York NY and a $200 million hospital in Beachwood OH.
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.
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KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: BUILDING SYSTEMS TECHNOLOGY DATA MANAGEMENT SOFTWARE ARCHITECTURE PROFESSIONAL SERVICES CONSULTING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Dodge Data & Analytics
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PUB: 05/07/2019 08:35 AM/DISC: 05/07/2019 08:35 AM