Economy

Dodge Momentum Index slips lower in March
Written by Brett Linton
April 5, 2024
The Dodge Momentum Index (DMI) fell again in March, marking one of the lowest index readings of the past two years according to Dodge Construction Network data released Friday.
The DMI fell 8.6% last month to 164.0, down from February’s revised reading of 179.5 and 12% lower than the same month one year prior.
“In 2023, commercial planning decreased while institutional planning notably improved,” said Sarah Martin, associate director of forecasting for Dodge. “While strong market fundamentals should support institutional planning this year, this side of the Index is more at risk for a substantive correction after last year’s growth.”
Martin noted that slower growth on the commercial side pulled down that portion of the index again this month. The commercial segment was down 14% from a year earlier, while the institutional segment fell 10%.
Dodge reported that a total of 14 projects valued at $100 million or more entered planning in March, down from 17 in February.

Dodge is the leading index for commercial real estate. It uses the data of planned nonresidential building projects to track spending in this important steel-consuming sector for the next 12 months. An interactive history of the DMI is available on our website.

Brett Linton
Read more from Brett LintonLatest in Economy

Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)

Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.

Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.

New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey

Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.