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Commercial Building Picture Unimproved07-15-15 | News

Commercial Building Picture Unimproved

An index that tracks only commercial and institutional building activity declined 1.3 percent in June, compared to May.

Commercial building projects have been lagging for the past year, and statistics in June show no improvement.

An index compiled by Dodge Data and Analytics called the Dodge Momentum Index dropped from 119.9 in May to 118.3 in June, the website, For Construction Pros, reports.

The index tracks only two sectors "?u commercial and institutional building "?u and is down 1.3 percent on a month-to-month basis.

It has increased a mere 2.2 percent since June 2014, and commercial spending alone decreased 2.6 percent in June. "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," For Construction Pros said.

On a positive note, institutional building spending was 0.6 percent higher in June, and has increased 10.1 percent on a year-to-year basis.