Dodge Momentum index rebounds in September | Your money
HAMILTON, NJ – (BUSINESS WIRE) – October 7, 2021–
The Dodge Momentum Index gained 11% in September to 164.9 (2000 = 100) from the revised August reading of 148.0. The Momentum index, published by Dodge Construction Network, is a monthly baseline measure for non-residential building construction projects in planning, which were found to be the top non-residential building construction expenditure for a full year. The commercial urban planning component increased by 13% in September, while the institutional component increased by 8%.
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DODGE MOMENTUM INDEX SEPTEMBER 2021 (Graph: Business Wire)
Non-residential construction projects entering the planning stage saw a strong recovery in early 2021, as the economy began to wake up from its pandemic-induced slumber. As the summer began, those gains turned into losses as rising material prices and shortages of labor and goods weighed on the construction industry. The vigor of projects entering planning was widespread during the month, with most areas advancing. Excluding health, which has seen a decline in the dollar value of planning projects in recent months. Year over year, the Momentum Index was 30% higher than in September 2020; the commercial component increased by 32%, while institutional planning increased by 25%.
A total of 17 projects worth $ 100 million or more were planned in September. The main commercial projects were the $ 500 million “The Star” office building in Los Angeles, California, and a $ 250 million office project in Cambridge, Massachusetts. The main institutional projects were the first and third phases of a laboratory in Boston, MA, valued at $ 450 million and $ 225 million, respectively.
The gain in the Momentum Index and its constituents in September is certainly good news and a sign that owners and developers are looking beyond current concerns about price, delta and policy and moving forward with it. projects to meet demand. This does not mean that there are no problems ahead for the sector. Month-to-month data volatility is expected to persist for some time.
About the Dodge Construction Network
Dodge Construction Network leverages an unrivaled offering of industry data, analysis and relationships to generate the most powerful source of information, knowledge, insights and connections in the commercial construction industry. The company powers four long-standing 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 businesses. Designed specifically to streamline complex tasks, Dodge Construction Network ensures 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.
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Media Contact: Allison Heard | 104 West Partners |[email protected]
KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: ARCHITECTURE DATA MANAGEMENT OTHERS CONSTRUCTION AND PROPERTY TECHNOLOGY BUILDING COMMERCIAL AND REAL ESTATE CONSTRUCTION AND PROPERTY URBAN PLANNING CONSTRUCTION SYSTEMS TRANSPORT LANDSCAPE LOGISTICS / MANAGEMENT OF THE SUPPLY CHAIN OF INTERIOR PLANNING
SOURCE: Dodge Construction Network
Copyright Business Wire 2021.
PUB: 07/10/2021 08:30 / DISC: 07/10/2021 08:32
Copyright Business Wire 2021.