Steel Markets
Dodge Momentum Index Down in January
Written by David Schollaert
February 8, 2022
The Dodge Momentum Index fell in January by 7.0% and to a four-month low, according to data and analytics from the Dodge Construction Network. The index registered 152.9 last month versus a revised December reading of 163.7.
In January, commercial planning fell 9.0% while institutional planning moved 1.0% lower. The index had a stellar 2021, rising 23% from 2020 and reaching levels not seen in nearly 14 years, said Dodge. The recent string of declines, however, may be blamed on rising costs, logistical limitations and shortages of skilled labor.
Despite the contractions, the dollar value of projects in planning remains exceptionally strong, especially for education, warehouse and healthcare projects.
The report noted that a total of 13 projects with a value of $100 million or more entered planning in January. The leading commercial projects were a $400 million hospital in Tahlequah, Okla., and the $320 million Ascension Seton Medical Tower in Austin, Texas. The leading commercial projects were the $300 million first phase of the Willets Point redevelopment in Willets Point, N.Y., and the $300 million XNRGY headquarters in Chandler, Ariz.
Many of the challenges facing construction in 2022 will be like those in 2021, dampening expectations for robust growth. The volume of projects in planning, however, provides hope for further, more evenly dispersed recovery this year, Dodge said.
An interactive history of the Dodge Momentum Index is available here on our website; an example is shown below. If you need assistance logging into or navigating the website, please contact us at info@SteelMarketUpdate.com.
David Schollaert
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