Commercial Construction Outlook Continues Upward Path
The Dodge Momentum Index increased 2.8 % in August, according to Dodge Data & Analytics. The Momentum Index, which now sits at 128.3 (2000=100) is a monthly measure of the first or initial reports for nonresidential building projects in planning.
Though the year started sluggishly, planning data continues trending higher, the report states. You can find the press release here. The current data suggest early 2016 should be off to a good start. The reports says the August gain "was due to a strong increase" in plans for commercial buildings - up 8.4% from Jul. This was offest buy a drop in planning in the institutional building sector, which slipped 5.2%. Still, compared to last year, institutional planning is up 5.1% with commercial planning ticking along at a 20.6% higher pace. The initial reports for projects in planning have been shown to lead construction spending for nonresidential buildings by a full year.
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