The Dodge Momentum Index, which rose 8.6% in April, is now at a 12-year high, led by a 77% climb in the institutional category over the last three months. But that positive, which gauges the initial planning of projects and usually precedes actual construction spending by 12 months, was countered by current challenges of soaring material costs and obstinate workforce shortages in the larger construction industry [...] — Construction Dive
According to the most recent Dodge Momentum Index, the April score of 162.4 signals the highest reading in over a decade and suggests a continued recovery of construction spending for nonresidential building projects.
"Healthcare and laboratory projects continue to dominate the sector, pushing institutional planning 50% higher on a year-over-year basis," the report states. "Conversely, the commercial component has slipped in recent months as fewer warehouse projects have entered planning, though the sector is 21% higher than in April 2020. Overall, the Momentum Index is 31% higher than last April, which was the first full month of COVID-19 shutdowns."
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