Momentum Index Jumps in OctoberNovember 7th, 2017 | Category: Industry News
The Dodge Momentum Index climbed 13.2 percent to 130.9 in October. The increase nearly reversed the decline of the past four months, with October posting healthy gains in both sectors.
The 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.
From September to October, the commercial portion of the Momentum Index advanced 16.8 percent, while the institutional portion grew 8.3 percent. On a year-over-year basis, the Momentum Index is now 6.1-perecnt higher, with the commercial portion up 5.5 percent and the institutional portion up 6.9 percent.
In October, 20 projects each with a value of $100 million or more entered planning.