Commercial and institutional planning trended upward during October as a total of 15 projects with a value of $100 million or more entered planning that month.
This commercial planning was bolstered by a solid increase in office and hotel projects, which bolstered commercial property planning. It led the Dodge Momentum Index (DMI), issued Nov. 7 by Dodge Construction Network, to improve 9.6% in October from its revised September reading.
During the month, the DMI continued its steady ascent, with the commercial component rising 13% and the institutional component ticking up 2.9%.
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