Dodge Data & Analytics

Twelve projects each with a value of $100 million or more entered planning in April, up from six projects in March, according to the latest Dodge Data & Analytics report.

The month’s increase was the result of an 8.2 percent bump in institutional projects, while the commercial component contracted for the second month in a row, according to the latest Dodge Data & Analytics report.

Despite a decrease in the Dodge Momentum Index for the month, the index is 7.7 percent higher than a year ago, suggesting nonresidential building construction should continue to post gains in 2018.

The Dodge Momentum Index ended 2017 on a high note, which bodes well for construction activity this year.

The increase nearly reversed the erosion of the past four months, with October posting healthy gains in both commercial and institutional project planning, according to Dodge Data & Analytics.

While the Dodge Momentum Index has fallen for four consecutive months, that doesn’t necessarily indicate a turn in the building construction market, noted Dodge Data & Analytics.

Dodge Data & Analytics reported that the decline was due to an 8.7 percent drop in the commercial component of the Dodge Momentum Index, bringing planning activity to a more sustainable pace.