NEW JERSEY – February 5, 2021 – The Dodge Momentum Index increased 3.1% in January to 139.4 (2000=100) from the revised December reading of 135.2. The Momentum Index, issued by Dodge Data & Analytics, 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 commercial component of the Momentum Index moved 9.9% higher, offsetting an 11.7% decrease in the institutional component.
January’s increase marked the highest level in the Momentum Index since the COVID-19 pandemic began. While certainly positive news, the Momentum Index is also sending a warning that the construction sector’s recovery may be very uneven in the months ahead. Institutional planning hit its lowest level since the Momentum Index began in 2002 as state and local governments pull back on building plans in the wake of growing budget deficits. Conversely, commercial planning is at its highest level since before the Great Recession, fueled by an increasing number of warehouse projects and to a somewhat lesser degree office projects. On a year-over-year basis the overall Momentum Index is 2.2% below January 2020. The commercial component is up 12.3% year-over-year, while the institutional component is down 27.7%.
In January, 13 projects each with a value of $100 million or more entered planning. The leading commercial projects were a $420 million Walmart distribution center in Lancaster TX and a $355 million Amazon warehouse (Project Roxy) in Arlington WA. The leading institutional projects were the $175 million Norman Regional Healthplex expansion in Norman OK and the $156 million Mercy Health Hospital in Kings Mills OH.
Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting & analytics services and workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, seize growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry.
As of April 15th, Dodge Data & Analytics and The Blue Book -- the largest, most active network in the U.S. commercial construction industry -- combined their businesses in a merger. The Blue Book Network delivers three unparalleled databases of companies, projects, and people.
Dodge and The Blue Book offer 10+ billion data elements and 14+ million project and document searches. Together, they provide a unified approach for new business generation, business planning, research, and marketing services users can leverage to find the best partners to complete projects and to engage with customers and prospects to promote projects, products, and services. To learn more, visit: construction.com and thebluebook.com.
Eric Becker | 104 West Partners | email@example.com
Sign up for any of our e-newsletters and receive key insights and industry trends
Thank you for your submission. You are now subscribed.
Call Dodge today at: 1-877-784-9556
Fill out the form below to get the information on Dodge Construction Central
Thank you for your interest. We will reach out to you shortly.