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
"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
