NEW YORK – July 9, 2015 – The Dodge Momentum Index fell to 118.3 (2000=100) in June, down 1.3% from 119.9 in May, 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. With the June decline, the Index continued its lackluster performance thus far in 2015, and is now up just 2.2% when compared to June 2014. Of the two major building sectors covered by the Index, commercial building has recently shown the most loss of momentum, sliding 2.6% in June. The economic weakness in the first quarter has likely played a role in the recent softness for this sector; at the same time, real estate market fundamentals remain favorable and can be expected to support a pickup in new plans for commercial buildings later this year. On the positive side, the institutional building sector edged up 0.6% in June, showing an increase in planning activity for the second month in a row, and it now stands 10.1% above the same month a year ago.
Within the commercial building sector there were three projects that exceeded $100 million, including plans for the following – the $128 million Alexander Court office addition and renovation in Washington DC, the $110 million Wharf InterContinental Hotel also in Washington DC, and a $108 million warehouse in Boiling Springs PA.
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About Dodge Data & Analytics: Dodge Data & Analytics is the leading provider of data, analytics, news and intelligence serving the North American construction industry. The company’s information enables building product manufacturers, general contractors and subcontractors, architects and engineers to size markets, prioritize prospects, target and build relationships, strengthen market positions, and optimize sales strategies. The company’s brands include Dodge, Dodge MarketShare™, Dodge BuildShare®, Dodge SpecShare®, and Sweets. To learn more, visit www.construction.com.
Media Contact: Susan Peterson, Marketing, Dodge Data & Analytics, +1-212-904-3669, firstname.lastname@example.org