Dodge Momentum Index Ticks Up in AprilMay 10th, 2016 | Category: Industry News
The Dodge Momentum Index rose 0.6 percent in April to 116.5 from its revised March reading of 115.8, according to Dodge Data & Analytics.
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.
“Over the last eight months, institutional planning has been on somewhat of a roller coaster ride – making impressive gains through early 2016 before falling 16 percent last month,” a release from Dodge reads. “With April’s slight gain, institutional planning is now 7 percent above its year-ago level, which suggests that despite volatility on a month-to-month basis the sector’s recovery is continuing. The overall index is essentially even with its April 2015 level, due to a subdued pace for commercial planning relative to a year ago.”
In April, six projects entered planning with a value that exceeded $100 million.