Dodge Momentum Index Increases in April

NEW YORK, May 6, 2016 /PRNewswire/ -- The Dodge Momentum Index rose 0.6% in April to 116.5 from its revised March reading of 115.8 (2000=100). 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. April's gain was due to increased planning activity for both commercial and institutional building, with commercial planning moving 0.8% higher and institutional planning rising 0.4%. Over the last eight months institutional planning has been on somewhat of a roller coaster ride – making impressive gains through early 2016 before falling 16% last month. With April's slight gain, institutional planning is now 7% above its year-ago level, which suggests that despite volatility on a month-to-month basis the sector's recovery is continuing. The overall Index is essentially even with its April 2015 level, due to a subdued pace for commercial planning relative to a year ago.

In April, six projects entered planning with a value that exceeded $100 million. For the commercial building sector, the leading projects were a $225 million hotel in Anaheim CA and a $200 million warehouse in Jacksonville FL. For the institutional building sector, the leading projects were a $500 million expansion to the Los Angeles County Museum of Art in Los Angeles CA and a $163 million outpatient health center in Tahlequah OK.

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®, Sweets, and ConstructionPoints. To learn more, visit www.construction.com.

Media Contact: Susan Peterson, Marketing | Communications, Dodge Data & Analytics, +1-347-523-4570, [email protected]

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SOURCE Dodge Data & Analytics