The Dodge Momentum Index climbed 13.9 percent to 149.5 in November. The Dodge Momentum Index, published by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which has been shown to lead construction spending for nonresidential buildings by a full year.
Construction planning was softer from June through September, but November’s strong gains followed a healthy October. Commercial construction planning grew 19.6 percent from October, while institutional construction planning gained 5.5 percent. The Momentum Index is up 21 percent on a year-over-year basis, with commercial up 24 percent and institutional up 17 percent.
“The turnaround in October and November suggests that building activity should continue to expand in 2018,” said Dodge.
During November, 21 projects valued at $100 million or more entered the planning stage.
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