In November, Dodge Data and Analytics’ Dodge Momentum Index moved 2.9% higher to 155.3 from the revised October reading of 150.9 (2000 equals 100). The increase in November was the result of a 6.5% increase in the institutional component, while the commercial component moved 0.7% higher.
The index increased nearly 15% from its lowest point earlier in the year. Dodge reported it is flirting with a new cyclical high, and the month-to-month planning data continues to be lumpy in nature as the presence or absence of large projects leads to greater volatility. The underlying trend of the index continues to suggest that construction activity in 2020 will not crater, but will moderately ease relative to 2019’s level.
Six projects, each with a value of $100 million or more, entered planning. The leading institutional projects were a $208 million first phase of Virginia Tech’s Innovation Campus in Alexandria, Va., and $144 million ThedaCare Orthopedic Center Hospital in Appleton, Wis. Leading commercial projects were a $180 million office building in Los Angeles and $125 million JW Marriott Hotel in Dallas.