by Calculated Risk on 3/08/2022 02:00:00 PM
From Dodge Data Analytics: Dodge Momentum Index Recovers in February
The Dodge Momentum Index rebounded from three consecutive monthly declines that followed a 14-year high in October 2021. Much of February’s gain was due to a sizeable jump in the institutional component, as more education and healthcare projects entered planning. Commerical planning remained solid thanks to office and warehouse projects. When compared to February 2021, the overall Momentum Index was 11% higher in February 2022. The institutional component was up 37%, while the commercial component was down 1% on a year-over-year basis.
This graph shows the Dodge Momentum Index since 2002. The index was at 158.2 in February, up from 151.9 in January.
According to Dodge, this index leads “construction spending for nonresidential buildings by a full year”. This index suggested a decline in Commercial Real Estate construction through most of 2021, but a solid pickup in 2022.