Dodge Momentum Index recovers in October
Commercial Index advances 16.8 percent for month; Institutional climbs 8.3 percent.
The Dodge Momentum Index rose in October, climbing 13.2% to 130.9 (2000=100) from the revised September reading of 115.6.
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.
The move higher in October nearly reversed the erosion of the past four months (including September’s 7.9% decline), with October posting healthy gains in both sectors.
From September to October the commercial portion of the Momentum Index advanced 16.8%, while the institutional portion grew 8.3%.
On a year-over-year basis, the Momentum Index is now 6.1% higher, with the commercial portion up 5.5% and the institutional portion up 6.9%.
October’s increase supports the belief that building activity has further room to grow during this cycle. While month-to-month activity could continue to be volatile, there are enough projects in the pipeline to sustain growth into 2018.
In October, 20 projects each with a value of $100 million or more entered planning. For the commercial building sector, the leading projects were a pair of Facebook data centers in Sandston VA valued at $400 million and $200 million respectively. The leading institutional projects were a $480 million hospital in Dallas TX and a $160 million hospital tower in Seattle WA.
Learn more at www.construction.com.
CONTRACTOR SUPPLY MAGAZINE
The October/November 2024 of Contractor Supply magazine is here!
Our cover story, A Rewarding Passion - Dale Hahs II, third-generation of Denver's AIS Industrial & Construction Supply, is STAFDA's incoming 2025 president.
A Special STAFDA section featuring a welcome address, an agenda, session previewss by presenters and much more. Also in this issue are our Industry Updates on: Lifting, Moving and Material Handling; Lasers, Levels and Measurement; Hand Tools; Cordless Power Tools; Drill Bits and Cutting Tools; and Toolboxes, Bags and Belts.
This digital edition, sponsored by BECK AMERICA Inc., is fully searchable and contains live links to every advertiser and new product listing. Click away!
| Read the Articles Read the Digital Edition |
