Planning for commercial and industrial buildings reached 13-year and 14-year highs, respectively in the Dodge Momentum Index.
Throughout the year, the overall Momentum Index increased 23%, the strongest annual gain since 2005 despite the lingering risks of COVID-19 and low demand for some types of nonresidential buildings, said the Dodge Construction Network, which prepares the index.
"The signals provided by the Dodge Momentum Index continue to suggest that construction activity will improve in 2022—and, more importantly, that this growth will be more balanced than what was seen in 2021. However, the ever-present risks of the pandemic and tight labor force will work to counter these trends, leading to moderate growth over the new year," DCN forecasted.
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