The Dodge Momentum Index (DMI) ticked down by 1.2% in August to 171.9 from the revised July figure of 174.0. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, shown to lead construction spending for nonresidential buildings by a full year. In August, the commercial component of the Momentum Index rose 1%, while the institutional component fell 5.6%. Commercial planning in August was led by an increase in hotel projects, while fewer healthcare projects drove the institutional component lower.
Total construction starts rose 48% in July to a seasonally adjusted annual rate of $1.36 trillion, according to Dodge Construction Network. This gain results from the start of three large manufacturing plants and two LNG export facilities. However, even without these projects, total construction starts would still have increased 7%. Nonresidential building starts rose 79% in July, and nonbuilding starts jumped 120%, conversely residential starts decreased 8%.
The Dodge Momentum Index (DMI) increased 2.9% in July to 178.7 from the revised June figure of 173.6. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning. The index is shown to lead construction spending for nonresidential buildings by a full year. In July, the commercial component of the Momentum Index rose 5.5%, while the institutional component fell 2.0%.
During the first six months of the year, the value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. increased 24% from 2021, according to Dodge Construction Network. Nationally, commercial and multifamily construction starts increased 18% year-to-date. In the top 10 metro areas, commercial and multifamily starts rose 28% in the first six months of 2022 compared to that of 2021.
Total construction starts fell 5% in June to a seasonally adjusted annual rate of $932.3 billion, according to Dodge Construction Network. Nonresidential building starts lost 14% during the month and residential was 6% lower. On the contrary, nonbuilding starts gained 13% in June due to the start of several large solar projects. Year-to-date, total construction was 5% higher in the first six months of 2022 compared to the same period of 2021. Nonresidential building starts rose 13% and residential starts gained 3%, while nonbuilding starts were 2% lower.
Total construction starts rose 4% in May to a seasonally adjusted annual rate of $979.5 billion, according to Dodge Construction Network. Nonresidential building starts rose 20%, while residential starts fell by 4% and nonbuilding lost 2% during the month. Year-to-date, total construction was 6% higher in the first five months of 2022 compared to the same period of 2021. Nonresidential building starts rose 17% and residential starts gained 3%, while nonbuilding starts were 5% lower.
The Dodge Momentum Index (DMI) jumped 7% in May to 176.2 (2000=100), up from the revised April reading of 165.2. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning shown to lead construction spending for nonresidential buildings by a full year. In May, the institutional component of the Momentum Index rose 9%, and the commercial component increased 6%. May’s increase in the Dodge Momentum Index pushed the level of planning above the most recent cyclical high in November 2021.
The Dodge Momentum Index (DMI) moved 6% higher in April to 164.8 (2000=100), up from the revised March reading of 155.0. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning shown to lead construction spending for nonresidential buildings by a full year. In April, the commercial component of the Momentum Index rose 9%, while the institutional component moved 2% higher.
Total construction starts fell 12% in March to a seasonally adjusted annual rate of $903.8 billion, according to Dodge Construction Network. Nonresidential building starts lost 29%, in part due to the start of three large manufacturing facilities in the prior month. When those three large projects are removed, nonresidential starts in March would have risen 10%. Residential starts also fell 3%, and nonbuilding starts lost 2%. Year-to-date, total construction was 9% higher in the first three months of 2022 than in the same period of 2021. Nonresidential building starts rose 26%, residential starts gained 3%, while nonbuilding starts were 1% lower.
Total construction starts rose 9% in February to a seasonally adjusted annual rate of $1.013 trillion, according to Dodge Construction Network. Nonresidential building starts swelled 32% due to the start of three large manufacturing facilities. By contrast, residential starts fell 3%, and nonbuilding starts fell by less than 1%. Without the three large manufacturing projects, total construction would have declined 6% in February.
The Dodge Momentum Index increased 4% in February to 158.2 (2000=100), from the revised January reading of 151.9. 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 February, institutional planning rose 9%, and commercial planning moved 1% higher. The Dodge Momentum Index rebounded from three consecutive monthly declines that followed a 14-year high in October 2021
Total construction starts increased 4% in January to a seasonally adjusted annual rate of $923.4 billion, according to Dodge Construction Network. Nonresidential building starts increased 4%, and nonbuilding starts rose 18%. Residential starts fell 1%. Compared to one year ago, total construction was 8% higher in January 2022 than in January 2021. Nonresidential building starts were up 14%, nonbuilding starts rose 12% and residential starts gained 2%. For the 12 months ending January 2022, total construction starts were 13% above the 12 months ending January 2021.
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 value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. increased 18% from 2020 to 2021, according to Dodge Construction Network. Nationally, commercial and multifamily construction starts increased 16% in 2021. In the leading half (the top 10 metro areas), commercial and multifamily starts rose 18% in 2021, with two metro areas, Washington, DC, and Los Angeles, CA, posting a decline. In the lesser half of metro areas (those ranked 11 through 20), commercial and multifamily starts rose 17% in 2021, with Chicago, IL, and Nashville, TN, losing ground from 2020.
Total construction starts were flat in December with a seasonally adjusted annual rate of $879.3 billion, according to Dodge Construction Network. Residential construction starts gained 4% in December 2021, while nonresidential building starts improved by 3%. Nonbuilding starts, however, declined 12%. Across 2021, total construction starts rose by 12% compared to 2020. Residential starts moved 20% higher, and nonresidential buildings increased 12%. Nonbuilding starts were flat in 2021.
Total construction starts fell 14% in November to a seasonally adjusted annual rate of $867.8 billion, according to Dodge Construction Network. Nonbuilding and nonresidential building starts bore the brunt of the decline, falling 30% and 21% respectively after seeing sharp increases in October as three large projects broke ground. Residential starts gained a modest 3%. Without October’s large projects, total construction starts in November would have increased by 5%.
The Dodge Momentum Index fell 4% in November to 171.7 (2000=100) — down from the revised October reading of 178.1. 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 November, commercial planning fell 8% while institutional planning moved 5% higher.
Total construction starts pushed 16% higher in October to a seasonally adjusted annual rate of $1.01 trillion, according to Dodge Construction Network. Nonresidential building starts gained 29% and nonbuilding moved 52% higher in October, while residential starts lost 8%. The month’s large gains resulted from the start of three large projects: two massive manufacturing plants and an LNG export facility. Without these projects, total construction starts would have fallen 6% in October.
The Dodge Momentum Index increased 10% in October to 181.2 (2000=100), from the revised September reading of 164.6. 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 October, commercial planning rose 14% and institutional gained 3%. The value of nonresidential building projects entering planning has staged a solid recovery this fall.
Total construction starts rose 10% in September to a seasonally adjusted annual rate of $889.7 billion, according to Dodge Construction Network. All three sectors improved: nonresidential building starts rose 15%, residential starts moved 9% higher, and nonbuilding starts increased by 6%. “Construction starts have struggled over the last three months as concerns over rising prices, shortages of materials, and scarce labor led to declines in activity,” stated Richard Branch, Chief Economist for Dodge Construction Network.
