Dodge Momentum Advances in September

The Dodge Momentum Index advanced 2.9 percent in September to 118.3 (2000=100) according to McGraw Hill Construction, a division of McGraw Hill Financial. After a brief pause in June 2013, the Momentum Index resumed its upward trend in the most recent three months. Since the end of 2012, the index has risen 31 percent, and in September reached its highest level since the first quarter of 2009. This acceleration suggests that, as of September, owners and developers viewed the environment of construction as improving, according to the announcement.

The two main components of the index diverged in September. The demand for new commercial buildings rose dramatically over the month, boosted by recovering market fundamentals such as rents and occupancy rates, reports McGraw Hill. The commercial component of the index jumped 8.5 percent in September thanks to increased plans for new office development. The institutional segment of retreated 2.5 percent for the month, as a gain for healthcare projects was offset by a larger decline in plans for amusement and education buildings, according to the announcement.

 

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