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    Analysis

    February 6, 2026

    Dodge: Nonres slips in January, data centers remain a bright spot

    Written by David Schollaert

    The Dodge Momentum Index (DMI) fell 6.2% in January to 272.7, retreating from December’s downwardly revised reading of 291.0, according to the latest data released by Dodge Construction Network.

    The decline signaled a moderation in nonresidential planning activity after a strong finish in 2025. Commercial planning also declined, down 7.2% to a reading of 358.2 for the month, while institutional planning eased 4.4% to 198.6 vs. December.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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