The Dodge Momentum Index rebounded from three consecutive monthly declines that followed a 14-year high in October 2021, recording a 4% increase in February to 158.2, up from the revised January reading of 151.9.
Activity was spurred by—among other things—education and health care projects, a data center in Manassas, Va., and a Chick-fil-A refrigerated warehouse for Chick-fil-A in Hutchins, Texas.
The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. In February, institutional planning rose 9%, and commercial planning moved 1% higher.
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