The Dodge Momentum Index fell to 119.9 in November, a 3.7 percent decrease from its October reading of 124.5. The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning.
According to Dodge Data & Analytics, the loss of momentum in October and November is returning the index to a level that’s more consistent with the commercial planning activity. Additionally, Dodge Data & Analytics reports a 5.3 percent increase in projects entering planning in the institutional sector.
In November, there were a total of seven projects that entered planning. Each project had a value that exceeded $100 million. For the commercial building sector, the leading projects included a $160 million office building in Boston and a $130 million retail project in Somerville, Mass. For the institutional building sector, the leading projects were a $325 million alteration of the American Museum of Natural History in New York and a $238 million hospital in Chula Vista, Calif.
Dodge Data is a provider of data, analytics, news and intelligence servicing the North American construction industry.
