The Dodge Momentum Index rose 0.6 percent in April to 116.5 from its revised March reading of 115.8.
According to Dodge Data & Analytics, April’s gain was due to increased planning activity for both commercial and institutional building, with commercial planning rising 0.8 percent and institutional planning rising .4 percent.
In April, six projects entered planning with a value that exceeded $100 million. The leading projects in the commercial building sector were a $225 million hotel in Anaheim, Calif., and a $200 million warehouse in Jacksonville, Fla. The leading projects in the institutional building sector were a $500 million expansion to the Los Angeles County Museum of Art in Los Angeles and a $163 million outpatient health center in Tahlequah, Okla.
According to Dodge Data & Analytics, institutional planning made significant gains through early 2016 before falling 16 percent last month. In addition, Dodge Data & Analytics says the index is essentially even with its April 2015 level, due to a subdued pace for commercial planning relative to a year ago.
The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. Dodge Data & Analytics is a provider of data, analytics, news and intelligence serving the North American construction industry.
