December 13, 2022

Dodge Momentum Index Gains in November

The Dodge Momentum Index increased by 3.8% in November moving to 207.2. This was up from the revised October score of 199.6. The commercial planning index rose 4.3% and the institutional component gained 2.7%.

Dodge Data and Analytics attributed the commercial gains to “[an] increase in hotel and data center projects and modest growth in stores and office projects.” Regarding the institutional gain Dodge cited a slowdown in education and healthcare projects offset by “a robust increase in planning projects for government administrative buildings and religious facilities.”

“The Momentum Index continued to rise in November, conveying hopefulness from owners and developers that the construction sector will endure the possible economic slowdown next year,” said Sarah Martin, senior economist for Dodge Construction Network.

Martin continued, “The rate of increase in the DMI, however, has steadied over the month. Labor and supply shortages, high material costs and high interest rates could temper planning activity over the next 12 months to a more modest pace.”

For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.