Dodge Momentum Index Falls in November

The Dodge Momentum Index (DMI) saw a slight step back in November, the second straight month with a decline. The Momentum Index from Dodge Data & Analytics, which measures nonresidential building projects at their first reporting, fell 2.6%.

"Uncertainty over the potential for further federal stimulus has significantly complicated the recovery and will continue to negatively impact nonresidential building throughout the planning and construction processes," states a release from Dodge Data & Analytics.

The commercial building component dropped 1.6% from October to November, while the institutional building component declined 4.4%. The DMI is roughly 13% below February data, said Richard Branch, chief economist with Dodge Data & Analytics, in a video on the release.

There were nine projects valued at $100 million or more to enter planning in November. On the institutional side, there was a $320 million high school project in Oregon and a $235 million lab project in Philadelphia. The commercial side was led by a $300 million commercial development in New York City and a $300 million warehouse project in Pittsburgh.
 
-Michael Miller, managing editor