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Dodge Momentum Index Falls in January

Commercial and institutional planning shows weak start in new year

original The DMI declined 7% in January to a four-month low of 152.9 (2000=100), from the revised December reading of 163.7. (Graphic: Business Wire)

The DMI declined 7% in January to a four-month low of 152.9 (2000=100), from the revised December reading of 163.7. (Graphic: Business Wire)

HAMILTON, N.J.--(BUSINESS WIRE)--The Dodge Momentum Index declined 7% in January to a four-month low of 152.9 (2000=100), from the revised December reading of 163.7. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. In January, commercial planning fell 9%, and institutional planning slipped 1%.

The Dodge Momentum Index had a stellar 2021, rising 23% from 2020 and reaching levels not seen in nearly 14 years. The recent string of declines, however, may be blamed on rising costs, logistical problems and shortages of skilled labor. Still, even as it has decreased, the dollar value of projects in planning remains exceptionally strong, especially for education, warehouse and healthcare projects.

A total of 13 projects with a value of $100 million or more entered planning in January. The leading institutional projects were a $400 million hospital in Tahlequah, OK, and the $320 million Ascension Seton Medical Tower in Austin, TX. The leading commercial projects were the $300 million first phase of the Willets Point redevelopment in Willets Point, NY, and the $300 million XNRGY headquarters in Chandler, AZ.

Many of the challenges facing construction in 2022 will be similar to those in 2021, dampening expectations for robust growth. However, the volume of projects in planning provides hope not only for a continuing recovery, but for it to be more evenly dispersed than last year.

About Dodge Construction Network

Dodge Construction Network leverages an unmatched offering of data, analytics, and industry-spanning relationships to generate the most powerful source of information, knowledge, insights, and connections in the commercial construction industry. The company powers four longstanding and trusted industry solutions—Dodge Data & Analytics, The Blue Book Network, Sweets, and IMS—to connect the dots across the entire commercial construction ecosystem. Together, these solutions provide clear and actionable opportunities for both small teams and enterprise firms. Purpose-built to streamline the complicated, Dodge Construction Network ensures that construction professionals have the information they need to build successful businesses and thriving communities. With over a century of industry experience, Dodge Construction Network is the catalyst for modern commercial construction.

Contacts

Cailey Henderson | 104 West Partners | dodge@104west.com

Industry:

Dodge Construction Network

Release Summary
The DMI declined 7% in January to a four-month low of 152.9 (2000=100), from the revised December reading of 163.7.
Release Versions
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Contacts

Cailey Henderson | 104 West Partners | dodge@104west.com

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