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Novemberdmi 2

Dodge Momentum Index Advances In November

Dec. 13, 2022
Commercial and institutional construction planning rose for third consecutive month, boosting monthly national measure by nearly 4%.

PRESS RELEASE

HAMILTON, N.J. – December 7, 2022  The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 3.8% (2000=100) in November to 207.2 from the revised October reading of 199.6. During the month, the DMI continued its steady ascent, with the commercial component rising 4.3%, and the institutional component ticking up 2.7%.

Commercial planning experienced a healthy increase in hotel and data center projects and modest growth in stores and office projects. While education and healthcare projects slowed in November, the institutional component remained net-positive alongside a robust increase in planning projects for government administrative buildings and religious facilities.

On a year-over-year basis, the DMI was 25% higher than in November 2021, the commercial component was up 28%, and institutional planning was 21% higher.

A total of 21 projects with a value of $100 million or more entered planning in November. The leading commercial projects included two $500-million segments of a Facebook data center in Sandston, VA, and the $400-million Sunset Industrial Park warehouse in Sunset Park, NY. The leading institutional projects comprised of the $185-million Hollywood Casino relocation in Joliet, IL, and the $160-million Smith County Courthouse in Tyler, TX.

“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. “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.”

The DMI 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.

Watch Martin discuss the DMI here.

About Dodge Construction Network

Dodge Construction Network leverages an unmatched offering of data, analytics, and industry-spanning relationships to generate the most powerful source of information, knowledge, insights, and connections in the commercial construction industry.

The company powers four longstanding 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 enterprise firms. Purpose-built to streamline the complicated, Dodge Construction Network ensures that 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. To learn more, visit construction.com