Institutional projects push Index to highest level since 2018
HAMILTON, New Jersey – April 7, 2021 – The Dodge Momentum Index moved 1.7% higher in March to 151.4 (2000=100) from the revised February reading of 148.8. 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. According to the March data, the Index hit its highest level since the summer of 2018 as a result of an increase in institutional projects that entered the planning stage, and which came on the heels of a similar gain for the sector in February.
Overall, the Momentum Index for March 2021 was up 11% in total versus March 2020. While healthcare and lab projects continue to dominate institutional planning, March saw a more broad-based selection of project types including education and recreation buildings. Institutional building construction rose 14.0% from February, while year-over-year comparisons showed a 10% increase for the sector. Commercial construction, however, dipped 3.9% for the month due to a slight pullback in warehouse activity that other commercial projects could not make up for, though the sector showed a 12% increase from March 2020 in year-over-year comparisons.
There were 16 projects with a value of $100 million or more that entered planning within March. The leading commercial projects were a $400 million Facebook Data Center in Springfield NE and a $350 million warehouse project in Shreveport LA. The leading institutional projects were the $200 million Warhorse Casino in Lincoln NE and the $163 million Inland Valley Medical Center in Wildomar CA.
Based on this data, March may signify that the public side of building construction is beginning to stabilize following the COVID-19 led pressure on state and local budgets and suggests a pickup in construction starts may occur as 2021 progresses.
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.