Economy

Dodge Momentum Index surges in July
Written by Kristen DiLandro
August 11, 2025
The Dodge Momentum Index (DMI) jumped 20.8% in July and is now up 27% year-to-date, according to the latest data released by Dodge Construction Network.
Fueling growth
Overall, the index grew 20.8% from 232.1 in June to 280.4 in July. The index for commercial buildings rose 14.2% to 328.6, while the institutional buildings index surged 35.1% from 163.4 to 220.7.

Each month, the DMI assesses the value of nonresidential building projects entering the planning phase. The assessment is an indicator of nonresidential building construction spending for the year.
Compared to the same month last year, the July DMI increased 41%, with the institutional segment up 85% and the commercial segment rising 24%.
Project types
Data centers and warehouses account for the greatest number of projects planned in the commercial building categories. However, most growth in July came from institutional building projects. Mainly, education, healthcare, and public works projects.
“Planning data skyrocketed in the month of July on the back of several large projects entering the planning queue for data centers, research & development labs, hospitals, and service stations,” said Sarah Martin, Dodge’s associate director of forecasting.
Dodge notes that, excluding all data center projects planned between 2023 and 2025, the commercial planning segment would be up 26% compared to year-ago levels. Warehouse planning is the factor driving the increase.
Forty-seven projects valued at or above $100 million entered into planning in July. Two data center projects in Pennsylvania and North Carolina are valued at ~$500 million each. The largest institutional projects are research labs at Arizona State and San Diego State, valued at $459 million and $398 million, respectively.
An interactive history of the DMI is available on our website.

Kristen DiLandro
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