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Project Planning Outlook Eases After Strong Q4

Dodge Data's Robert A. Murray says the construction industry has made the transition to “a more mature stage of expansion” over the past two years.

By Paul Bubny | Updated on February 07, 2018

Photo of Robert A. Murray Construction expansion is expected to continue “at a modest pace” in 2018, Murrays says.

NEW YORK CITY—The year got off to a sluggish start from the standpoint of construction spending, as Dodge Data & Analytics’ newly issued Dodge Momentum Index of nonresidential projects in planning dropped 5.1% in January to 143.7 from a revised reading of 151.5 in December. Yet Dodge Data sees the lower reading as a return to a more sustainable level following an especially strong fourth quarter.

The commercial component of the Momentum Index was 7.8% lower in January, while the institutional component was down 0.9%. However, on a year-over-basis January’s index was up 7.7%, with both the commercial and institutional components showing growth over January 2017. This suggests that nonresidential building construction should continue to post moderate gains in 2018, according to Dodge Data.

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