Planning for nonresidential construction increased in August according to the Dodge Momentum Index by Dodge Data & Analytics. The Index rose 2.8 percent from July to register 128.3. 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.
Commercial building led the increase for August, up 8.4 percent from July. New institutional planning activity contracted by 5.2 percent after picking up the previous month. Construction planning has been trending higher after a weak start in the first half of 2015. August commercial planning is up 20.6 percent y/y while institutional planning is 5.1 percent higher than in 2014.
In August, ten projects valued at $100 million or more entered the planning phase—eight in commercial and two institutional projects.
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