Infrastructure
Dodge Momentum Index reaches record high in June
Written by David Schollaert
July 10, 2025
The Dodge Momentum Index (DMI) increased again in June, setting a record reading. The surprise result follows three months of little to no growth, according to the latest data released by Dodge Construction Network.
Both institutional and commercial projects accelerated in June, further improving the nonresidential construction market.
The May DMI rose to 225.1, a 6.8% increase from May’s downwardly revised reading of 211.1 and 23% higher than levels seen one year prior. Compare this to the previous record-high reading of 223.9 measured back in January.
“Nonresidential planning steadily improved in June, alongside strength in warehouse, recreational, and data center planning,” said Dodge’s associate director of forecasting, Sarah Martin.
“Planning momentum in other key sectors – like education, hotels, and retail stores – was more subdued,” she added.
Martin noted that weaker consumer spending, travel demand, and concerns around funding are key contributors to weaker momentum in those sectors.
The institutional segment of the index grew 5.7% from May to a five-month high of 160.0 in June, up 46% compared to a year earlier. The commercial building segment rose 7.3% month over month to 277.7.
Dodge said warehousing activity saw substantive momentum, and data center projects remained robust in June.
Dodge reported a total of 40 projects valued at $100 million or more entered the planning stage in June, up from 33 in May.
The DMI is a leading index for commercial real estate, utilizing data on planned nonresidential building projects to track spending activity in this important steel-consuming sector over the next 12 months. An interactive history of the DMI is available on our website.
David Schollaert
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