NEW JERSEY (April 7, 2021) – A report released by Dodge Data & Analytics shows that gains for the month were related to increases in health care and lab projects. March also saw a more broad-based selection of project types including education and recreation buildings.
The March Momentum Index was up 11% in total over March 2020. This was a 1.7% increase over February 2021. The March Index rose to 151.4, the highest level since summer 2018.
The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
Dodge posits that the March data may be a sign that public building construction is stabilizing from the pressures of the pandemic and an upward trend for 2021 going forward.