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Press Release

Dodge Momentum Index Rebounds in April

NEW YORK – May 8, 2014 – The Dodge Momentum Index advanced 8.4% in April to 123.0 (2000=100), 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 Momentum Index had retreated in February and March, following the steady gains that were reported during most of 2013.  With the April increase, the Momentum Index resumed its upward track, and is up 17.8% compared to the same month a year ago.  A harsh winter helped slow overall economic growth in the first months of 2014, but prospects for commercial development are again showing improvement, as reflected by the growing volume of projects at the planning stage and strengthening market fundamentals such as occupancy rates and rents.

The April Momentum Index was bolstered by an upturn for both of its segments. Commercial was the stronger of the two components, climbing 12.1% from March.  Among the larger commercial projects to enter planning in April were several office buildings and hotels – a $300 million headquarters for Toyota in Plano TX, a $260 million convention center hotel in Seattle WA, and a $200 million Waldorf Astoria hotel in Los Angeles CA.  The institutional segment of the Momentum Index, meanwhile, rose 3.9% in April, marking its first monthly increase since January.  A small increase in plans for educational buildings moderated the overall increase for institutional buildings and offset a stronger gain for healthcare projects.

DMI Rebounds in April

 

 

 

 

 

  

 

 

 

 

 

 

 

 

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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.

Media Contact:  Kathy Malangone, Senior Director, Communications:
McGraw Hill Construction, 212-904-4376, kathy.malangone@mhfi.com

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