Economy
January 14, 2014
DMI for Nonresidential Building Gains 1.2% in December
Written by Sandy Williams
The Dodge Momentum Index is a monthly measure of the initial report for nonresidential building projects in planning and is published by McGraw Hill Construction. The report leads construction spending by a full year and can be used an indicator for future construction. Any reading above 100, established for year 2000, indicates growth in construction planning.
The Momentum Index for December rose 1.2 percent to 118.3 from the previous month with both commercial and institutional buildings driving the increase. The index for commercial building rose 1.5 percent to a reading of 112.3 due to office and hotel developments. New projects revealed in December include a $350 million office campus in California, a $300 million office tower in Boston, and a $94 million expansion of a Microsoft data center in Quincy, Washington.
