Your behavior appears to be a little unusual. Please verify that you are not a bot.


Dodge Momentum Index makes gains to end 2022

By |  January 9, 2023

Photo:

The Dodge Momentum Index, issued by Dodge Construction Network, improved 6.6 percent in December to 222.2.

In December, the commercial component of the index rose 8.4 percent while the institutional component ticked up 2.7 percent.

The Dodge Momentum Index is a monthly measure of the initial report for nonresidential building projects in planning. Dodge says it is shown to lead construction spending for nonresidential buildings by a full year.

“One of the key construction storylines for 2022 was the return of enthusiasm and optimism in prospects for nonresidential growth,” says Richard Branch, chief economist at Dodge. “While some of that will likely erode in 2023 as economic growth wanes, increased demand for some building types like data centers, labs and health care buildings will provide a solid floor for the construction sector.”

Commercial planning in December was supported by broad-based increases across office, warehouse, retail and hotel planning, according to Dodge. Institutional growth, meanwhile, focused on recreation and public building, with education and health care planning activity remaining flat.

On a year-over-year basis, the index was 40 percent higher than in December 2021. In that same time, the commercial component was up 51 percent and institutional planning was 20 percent higher.

A total of 15 projects with a value of $100 million or more entered planning in December, Dodge adds. The leading commercial projects were the $500 million Vantage Data Center in Sterling, Virginia, and a $183 million mixed-use building in Chicago. The leading institutional projects were the $400 million Acute Neuropsychiatric Hospital in Los Angeles, and a $185 million life sciences building in Philadelphia.

Jack Kopanski

About the Author:

Jack Kopanski is the Managing Editor of Pit & Quarry and Editor-in-Chief of Portable Plants. Kopanski can be reached at 216-706-3756 or jkopanski@northcoastmedia.net.

Comments are closed