Press Release
Dodge Momentum Index Slips in August
September 10, 2012 - New York, NY
The Dodge Momentum Index retreated 1.4% in August compared to July, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. 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. The August Momentum Index came in at 96.8 (2000=100), down from July's revised 98.1. Despite the month's pullback, the index remains 21.4% ahead of its level a year earlier. The recent softening in the U.S. economy may be causing some deceleration in plans for future development.
This is particularly true for the commercial component of the index, which dropped 3.5% in August. By contrast, the institutional building segment of the Momentum Index inched up 1.0% over the month. Both components are well ahead of their year-earlier levels. In August, the institutional building segment was buoyed by two large projects entering the planning database: the $500 million MGM Resort Casino proposed for Springfield MA and the $200 million Milford Memorial Hospital proposed for Milford DE. On the commercial side, August saw the addition of Apple Computer's $250 million planned expansion of its Prineville OR office park.
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About McGraw-Hill Construction:
McGraw-Hill Construction's data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record— create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge BuildShare and Dodge SpecShare. To learn more, visit www.construction.com.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.com
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