The Dodge Momentum Index fell 1.0% in May to 141.0 (2000=100) from the
revised April reading of 142.4. 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 May decline for the Momentum Index was due entirely to a
6.9% drop by its commercial component, as its institutional component
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The Momentum Index continues to settle back from the most recent highs
achieved last summer. On a year-over-year basis, the Momentum Index in
May was 9.2% lower than a year ago, with a 16.0% drop by its commercial
component outweighing a 1.8% gain by its institutional component.
Although the trend for the overall Momentum Index is downward, so far
the pullback has been measured, suggesting that there remains enough
nonresidential building projects in the pipeline to support near term
stability for construction activity. This is particularly true for the
institutional side of nonresidential building.
In May, there were 14 projects each with a value of $100 million or more
that entered planning. The leading commercial projects were a $500
million office building in the Bronx NY and the $300 million second
phase of the Iceberg Towers in Burbank CA. The leading institutional
projects were the $250 million second phase of the Kaiser Permanente
Hospital in Sacramento CA and the $150 million Moffitt Cancer Center
Hospital in Tampa FL.
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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.