Dodge Momentum Index Recovers in September
The Dodge Momentum Index gained 11% in September to 164.9 from the revised August reading of 148.0. The commercial planning component increased by 13% in September, while the institutional component rose 8%.
Nonresidential building projects entering planning staged a solid recovery in early 2021, as the economy began to awaken from its pandemic-induced slumber. Entering summer, those gains turned to losses as higher material prices and shortages of labor and goods weighed on the construction sector.
The gain in the Momentum Index and its components in September is certainly good news and a sign that owners and developers are looking past the current concerns over pricing, Delta, and politics and are moving forward with projects to meet demand.