Tag: Construction starts

Dodge Momentum Index Moves Higher in June

In June, the commercial component of the Momentum Index moved 1.1% higher, while the institutional component eked out a 0.3% gain. June’s advance marks the fifth straight monthly increase for the Momentum Index, which is now nearing a ten-year high, and suggests that the moderate strengthening of construction activity currently underway will continue through the end of 2018.

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May Construction Starts Climb 15 Percent

At a seasonally adjusted annual rate of $783.6 billion, new construction starts in May advanced 15% from April, according to Dodge Data & Analytics.  The increase follows a 12% decline in April, and shows total construction activity reaching the highest level reported over the past eight months.  The lift in May came from substantial gains for nonbuilding construction, up 39%; and nonresidential building, up 18%; as both sectors benefited from the start of several very large projects.

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Dodge Momentum Index Moves Higher in April

The Dodge Momentum Index jumped 6.1% in April to 163.0 (2000=100) from the revised March reading of 153.7. 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.

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March National Starts: Audio Commentary from Robert Murray

New construction starts in March increased 11% from the previous month to a seasonally adjusted annual rate of $785.2 billion, according to Dodge Data & Analytics. The substantial gain followed modest declines in January (down 2%) and February (down 3%), and brings the pace of total construction starts to the highest level over the past six months.

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Summary of the National Construction Starts

by Dodge Chief Economist Robert Murray

National Construction Starts by Dodge Chief Economist Robert Murray

The February statistics produced a reading of 150 for the Dodge Index (2000=100), compared to 154 for January.  “The 152 average for the Dodge Index during the first two months of 2018 is the same as the 152 average reported for the fourth quarter of 2017, as the pace of construction starts viewed over several months seems to have leveled off,” stated Robert A. Murray, chief economist for Dodge Data & Analytics.  “What’s important to keep in mind is that the moderately subdued amount for total construction starts during the first two months of 2018 reflects diminished activity by public works and electric utilities, which given their inherent volatility are likely to bounce back over the next month or two.  Compared to last year’s fourth quarter, the first two months of 2018 have seen further increases for nonresidential building, helped by its institutional building segment, and residential building, helped by multifamily housing.  This suggests that the construction expansion, while slowing, is still in progress.”

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Construction starts fall in October

New construction starts in October dropped 9% to a seasonally adjusted annual rate of $742.9 billion, pulling back after a 14% jump in September, according to Dodge Data & Analytics. 

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June construction starts climb 4 percent

New construction starts in June grew 4% from the previous month to a seasonally adjusted annual rate of $679.9 billion, according to Dodge Data & Analytics.  Nonresidential building increased 13% in June, strengthening after two months of lackluster activity, and the nonbuilding construction sector rose 8% with the help of elevated activity for electric utilities.  However, residential building slipped 4% in June, as both sides of the housing market (single family and multifamily) retreated. 

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New construction starts in May edge up slightly

“While May revealed slight improvement over April, the pace of expansion so far this spring has generally slowed following the elevated activity in the first quarter,” stated Robert A. Murray, chief economist for Dodge Data & Analytics.

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March construction starts led by public works sector

New construction starts in March increased 5% to a seasonally adjusted annual rate of $743.7 billion, marking the third straight monthly gain, according to Dodge Data & Analytics. The total construction growth in March was led by the nonbuilding construction sector, and particularly by public works which featured the start of two large pipeline projects – the $4.2 billion Rover natural gas pipeline in Ohio and Michigan, and the $2.5 billion Mariner East 2 propane and natural gas liquids pipeline in Pennsylvania.

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May-June-2018 PRISM

Editor’s pick – Takeda Global Headquarters

Takeda Global Headquarters in Nihonbashi, Tokyo, Japan. In the 1st floor entrance space, a large circular stone filled with flowing water and light symbolizes “the source of life”, and wooden artwork made of three-dimensional kanji motifs for “water” and “light” lines the walls.

Takeda Global Headquarters in Nihonbashi, Tokyo, Japan. In the 1st floor entrance space, a large circular stone filled with flowing water and light symbolizes “the source of life”, and wooden artwork made of three-dimensional kanji motifs for “water” and “light” lines the walls.

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