At a seasonally adjusted annual rate of $706.4 billion, new construction starts in February rose 2% from the previous month, according to Dodge Data & Analytics. This was the second straight monthly increase, following a 15% hike in January, as construction starts regained the upward track following four consecutive monthly declines to close out 2016.
Read MoreInvestments in healthier buildings are poised to be a transformative trend in the construction industry. Architects, interior designers, and contractors need to better understand the priorities of their clients. What are the general trends on design and construction practices that have a positive impact on occupant health?
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February’s increase was due to a 4.4% jump in institutional planning, while commercial planning slipped slightly, falling 0.3% for the month. The Momentum Index has now increased for five consecutive months; however, the underlying components continue to be volatile on a month-to-month basis as large projects continue to sway the data.
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The value of new construction starts in January climbed 12% to a seasonally adjusted annual rate of $690.2 billion, according to Dodge Data & Analytics. After losing momentum during last year’s fourth quarter, nonresidential building strengthened in January, with much of the lift coming from the start of the $3.4 billion Central Terminal Building at LaGuardia Airport in New York NY as well as groundbreaking for several other large airport terminal projects.
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The Dodge Momentum Index rose 3.9% in January to 142.6 (2000=100) from its revised December reading of 137.3. The move higher in January was due to a 12.1% increase in institutional planning outweighing a 1.0% decline in commercial planning intentions. Despite the decline in commercial planning in January, that portion of the Momentum Index remains near its eight-year high, and suggests that commercial building will see renewed strength in 2017.
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New construction starts in December slipped 5% to a seasonally adjusted annual rate of $613.0 billion, according to Dodge Data & Analytics. The latest month’s decline for total construction was due to sharply reduced activity for the nonbuilding construction sector, reflecting further erosion by public works as well as a steep plunge by the electric utility/gas plant category. At the same time, nonresidential building in December held steady with its November pace, and residential building was able to register moderate growth.
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The Dodge Momentum Index increased 2.9% in December to 136.7 (2000=100) from its revised November reading of 132.8. 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.
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Decreased activity reported for nonresidential building, housing, and public works At a seasonally...
Read MoreThe Dodge Momentum Index moved 0.3% higher in November to 133.2 from its revised October reading of 132.7 (2000=100).
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New construction starts in October decreased 4% to a seasonally adjusted annual rate of $678.9 billion, settling back from the elevated amount that was reported in September, according to Dodge Data & Analytics.
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