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Dodge Momentum Index Slips in June
July 10, 2012 - New York, NY
The Dodge Momentum Index retreated 2.3% in June from the previous month, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. 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 for June came in at 92.2 (2000=100), down from May's revised 94.4. This marked the second monthly decline in a row, following the 0.7% pullback in May. The drop for the Momentum Index during the most recent two months mirrors the recent softening for the U.S. economy, and suggests that the slower pace of economic growth is causing some deceleration in plans for future development.
The 2.3% decline for the Dodge Momentum Index in June was the result of a divergent pattern by its two main segments. The institutional building segment of the Momentum Index fell 10.2%, weighed down in June by a decreased amount of planning projects for education buildings. In contrast, the commercial building segment of the Momentum Index climbed 5.9% in June, regaining some upward momentum after sliding in May. The commercial building segment in June was helped in particular by an uptick in new plans for office projects, including a new office campus in Mountain View CA and a new corporate office building in Everett WA. An increased volume of projects at the planning stage was also reported for stores and warehouses.
About McGraw-Hill Construction:
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 BuildShare and Dodge SpecShare. To learn more, visit www.construction.com.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, firstname.lastname@example.org