Positive momentum for nonresidential as Dodge index increases in November 2019

By |  December 6, 2019

Photo: Dodge Data Analytics

The Dodge Momentum Index moved 2.9 percent higher in November.

The index, issued by Dodge Data & Analytics as a monthly measure of the first report for nonresidential building projects in planning, moved to 155.3 from Dodge Data’s revised October reading of 150.9.

The November increase was the result of a 6.5 percent increase in the institutional component, while the commercial component moved 0.7 percent higher.

The overall index has staged somewhat of a resurgence over the last few months, increasing nearly 15 percent from its lowest point earlier in the year. In fact, it is currently flirting with a new cyclical high.

The month-to-month planning data continues to be lumpy in nature, as the presence or absence of large projects leads to greater volatility. Nevertheless, the underlying trend of the index continues to suggest that construction activity in 2020 will not crater but will moderately ease relative to this year’s level.

In November, six projects each with a value of $100 million or more entered planning. The leading institutional projects were the $208 million first phase of Virginia Tech’s Innovation Campus in Alexandria, Virginia, and the $144 million ThedaCare Orthopedic Center Hospital in Appleton, Wisconsin.

The leading commercial projects were a $180 million office building in Los Angeles and a $125 million JW Marriott Hotel in Dallas.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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