Construction Momentum at 12-Year High
Post date
May 14, 2021
Body
Joe Bousquin, Construction Dive
The future of construction in 2022 looks bright, especially in the institutional sector, but contractors will have to overcome a multitude of challenges to enjoy it, based on two bellwether construction reports issued last week.
The Dodge Momentum Index, which rose 8.6% in April, is now at a 12-year high, led by a 77% climb in the institutional category over the last three months. But that positive, which gauges the initial planning of projects and usually precedes actual construction spending by 12 months, was countered by current challenges of soaring material costs and obstinate workforce shortages in the larger construction industry, according to the Associated General Contractors of America.