Dodge Momentum Index rises 7% in December

The Dodge Momentum Index (DMI) increased from November to December, according to the latest data released by Dodge Construction Network (DCN).

The December index rose 7.0% to 296.8 from the upwardly revised November reading of 277.4. Year over year, the DMI was up 50%.

Meanwhile, the Commercial Building Index increased 3.5% month over month to 361.6 in December, and the Institutional Building Index rose 14.9% to 216.5.

“Inflationary pressures will further support nominal activity levels, even as economic risks remain elevated,” Sarah Martin, associate director of forecasting at DCN, said in a statement on Jan. 8.

“Notably, projects moved through the planning process marginally quicker in Q4’25 (16 months vs. 18 months in Q3’25), offering a modest boost to our near-term outlook,” she added.

DCN said 34 projects valued at $100 million or more entered planning in December.

Each month, Dodge Construction Network releases its DMI, based on the three-month moving average of nonresidential projects entering planning, which has been shown to lead construction spending by 12-18 months.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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