The Dodge Momentum Index rose for the second straight month in January, climbing 2.7 percent to 97.6 and providing some optimism for the nonresidential building segment. The index is a monthly measure of the first report for nonresidential building projects in planning, and the 97.6 mark is the index’s highest reading since mid-2010.
According to McGraw-Hill Construction, which calculates the Dodge Momentum Index, January’s increase was the result of stronger activity for both its commercial and institutional segments. The institutional segment, in fact, climbed 3.1 percent in the month, driven by a surge in new hospital projects entering the planning phase.
A 2.3 percent gain in the commercial segment, meanwhile, reflects an uptick in plans for new offices and stores, including a Chevron office complex in Texas and a mixed-use tower in San Francisco.
