Dodge Momentum Index Makes Third Straight Gain in June
NEW YORK – July 9, 2014 – The Dodge Momentum Index gained 3.3% in June to 128.7 (2000=100), its third consecutive increase following hesitation in February and March, according to McGraw Hill Construction, a division of McGraw Hill Financial. 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 Dodge Momentum Index appears to be recovering from the weather-induced softness early in the year. Aided by this recent strengthening, the Momentum Index was a healthy 22.6% higher in June than a year earlier. Moreover, the growing volume of projects at the planning stage suggests that nonresidential construction starts should be headed higher over the remainder of the year.
This month’s increase in the Momentum Index was the result of a strong 8.3% surge in commercial building plans. At the same time, the institutional side of the market retreated in June, with new projects at the planning stage slipping 4.0%. Five commercial projects valued at $100 million or more entered planning in June to support the increase. These include the $250 million Kroger Distribution facility in Forest Park GA, the $200 million Skyplex Retail and Entertainment Complex in Orlando FL, a $200 million hotel at the Maryland Live Casino location in Hanover MD, a $100 million warehouse at the LogistiCenter in Logan NJ, and the $100 million retail portion of The Haven Outlet Shops in West Haven CT.
# # #
About McGraw Hill Construction:
McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare®, and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit www.construction.com.
About McGraw Hill Financial:
McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.