Market Data
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 Market Data
Chicago Business Barometer improves but still contracts in October
The Chicago Business Barometer’s October reading still indicates a cooling in general business activity despite posting a surprise gain.
Drilling activity slows at October’s end in US and Canada
The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada last week.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Steel Demand Index improves but remains in contraction
SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.
SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.