Economy
Dodge Momentum rebounds in December
Written by David Schollaert
January 9, 2025
Improved growth in data center planning and warehousing projects helped the Dodge Momentum Index (DMI) rebound in December. The index recovered last month after declining for three consecutive months prior.
Dodge Construction Network (DCN) reported a DMI of 212.0 in December, a 10.2% boost from 192.3 the month before. Institutional planning improved 2.5%, while commercial planning increased 14.2%.
Data center and warehousing planning were bright spots last month, aided by improved planning in health care and education activity driving institutional growth.
Sarah Martin, DCN’s associate director of forecasting, said “Overall, the strong performance of the Momentum Index this past year is expected to support nonresidential construction spending throughout 2025.”
On the commercial side, data center impact on the DMI in 2024 was substantial. If data center projects in 2023 and 2024 were removed, commercial planning would be up 8% y/y (year over year), and the entire DMI would be up 5%, the report said.
Compared to one year ago, December’s DMI was 19% higher this year, with the institutional segment flat and the commercial segment surging 30%.
The DMI tracks the value of nonresidential construction projects entering the planning stages and typically leads construction spending by about 12 months.
David Schollaert
Read more from David SchollaertLatest 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.