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Economy, Real Estate

Dodge Momentum Index Increases to Start 2021

Source: https://www.construction.com/news/dodge-momentum-index-increases-to-start-2021

The Dodge Momentum Index increased 3.1% in January to 139.4 (2000=100) from the revised December reading of 135.2. 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. The commercial component of the Momentum Index moved 9.9% higher, offsetting an 11.7% decrease in the institutional component.

January’s increase marked the highest level in the Momentum Index since the COVID-19 pandemic began. While certainly positive news, the Momentum Index is also sending a warning that the construction sector’s recovery may be very uneven in the months ahead. Institutional planning hit its lowest level since the Momentum Index began in 2002 as state and local governments pull back on building plans in the wake of growing budget deficits. Conversely, commercial planning is at its highest level since before the Great Recession, fueled by an increasing number of warehouse projects and to a somewhat lesser degree office projects. On a year-over-year basis the overall Momentum Index is 2.2% below January 2020. The commercial component is up 12.3% year-over-year, while the institutional component is down 27.7%.

In January, 13 projects each with a value of $100 million or more entered planning. The leading commercial projects were a $420 million Walmart distribution center in Lancaster TX and a $355 million Amazon warehouse (Project Roxy) in Arlington WA. The leading institutional projects were the $175 million Norman Regional Healthplex expansion in Norman OK and the $156 million Mercy Health Hospital in Kings Mills OH.

To learn more about the data behind this article and what Dodge Analytics has to offer, visit https://www.construction.com/.

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Advan provides hedge funds and institutional investors with unmatched insights into both foot and vehicle traffic to enable better investment decisions. Using precise, manual geofencing, it has the most extensive and accurate location data, available in seconds through an intuitive, self-service dashboard. Its institutional-grade analytics allow fast and actionable insights into customer behavior and corporate activity.

Advan is headquartered in New York City. For more information please visit www.advan.us