Economy
Dodge Momentum Index inches down in November
Written by David Schollaert
December 7, 2023
The Dodge Momentum Index (DMI) slipped in November due to slightly weaker commercial and institutional activity, according to the latest Dodge Construction Network (DCN) data.
The DMI declined 1% to 179.2 in November from October’s revised reading of 181.7. November’s reading is 14% lower than the same time last year.
“While both portions of the Momentum Index saw slower momentum in planning, overall levels remain steady and will support construction spending in 2024 and 2025,” Sarah Martin, DCN’s associate director of forecasting, said in a statement.
“Nonresidential planning activity will remain constrained from stronger growth amidst ongoing labor and construction cost challenges,” she added.
All commercial segments except data centers saw declines in November. Improved momentum in healthcare and public projects on the institutional side was offset by ongoing weakness in education planning, the report said.
Month over month, the commercial segment of the DMI fell 1.4%, while the institutional component fell 1.5%. Year over year, the commercial portion was down 20%, while the institutional area rose 2%.
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.
David Schollaert
Read more from David SchollaertLatest in Economy
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.
US housing starts gain momentum in July
US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau.