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Nonresidential Planning Down Slightly in March04-13-15 | News

Nonresidential Planning Down Slightly in March

Though March was off from February's measurement, the overall trend in nonresidential project planning during the last 12 months has been positive.

The Dodge Momentum Index, a measure of nonresidential building projects that begin the planning stages in a given month, was off slightly in March compared to February. That month's numbers was 124.9, which was 2.1 percent better than March's 122.3.

However, the index, as calculated by Dodge Data & Analytics, has been faring better the last 12 months when measured up to the 12 months beginning in April 2013. For example, the first three months of this year have put up numbers that are12 percent better than the first three months of 2014.

According to the report's authors, the rising trend in the index forecasts increased construction starts through at least early 2016.

As for real-world implementation, there were seven commercial projects and three institutional projects valued at $100 million or more that started planning during March.

The Momentum Index is accepted to be an indication of the amount of construction spending for nonresidential buildings that will take place 12 months from the present.