Market Data
November 7, 2023
Dodge Momentum Index Ticks Up in October
Written by Becca Moczygemba
The Dodge Momentum Index (DMI) increased in October thanks to stronger commercial activity, according to the latest Dodge Construction Network (DCN) data.
The DMI improved 1% to 181.7 from September’s revised reading of 180.3, but was 8% lower than the same time last year.
“Heightened momentum in warehouse planning activity supported the commercial side of the Index this month, while muted education planning activity slowed the institutional portion,” Sarah Martin, associate director of forecasting for Dodge Construction Network, said in a statement. “Overall levels of planning activity remain robust and will support construction spending over the next 12 to 18 months.”
Despite strong growth in September, education and healthcare activity slowed in October, DCN said. Advancements in warehouse planning helped commercial growth, it noted.
Month over month, the commercial segment of the DMI increased 2%, while the institutional component fell 1.4%, DCN said. The commercial portion was down 14% year over year, and the institutional area rose 7%
Dodge is the leading index for commercial real estate, using the data of planned nonresidential building projects to track spending in the important steel consuming sector for the next 12 months. An interactive history of the DMI is available on our website.
