Dodge Momentum Index Higher in April

The Dodge Momentum Index, a first report for nonresidential building projects in planning, jumped 6.1 percent in April to 163.0. Commercial and institutional components of the Index both rose 5.3 percent and 5.8 percent, respectively.

“Over the last two months, the commercial portion of the Momentum Index has posted the most aggressive growth, fueled by continued low vacancy rates for commercial buildings, as well as the potential benefits from the tax cuts passed in December,” said Dodge Analytics. “The gains for the institutional component, while healthy, have been more moderate, reflecting the ebb and flow of public funding for larger education and public building projects.”