Market Data
April 8, 2026
Dodge Momentum rises in March strictly on data center growth
Written by Laura Miller
The Dodge Momentum Index (DMI) increased in March, but only from a downwardly revised February reading, and data centers were the only area to show positive growth.
The Dodge Construction Network (DCN) reported a DMI reading of 250.5 for March, up 1.8% from February’s downwardly revised reading of 246.2.
The DMI is a monthly reading based on the three-month moving average of nonresidential building projects entering planning. The measure is shown to lead nonresidential construction spending by 12 to 18 months, according to DCN.
While commercial planning grew 7% month over month (m/m), momentum slowed across all commercial sectors except for data centers. There was widespread weakness across institutional planning, which fell back 8.8% m/m.
“Planning momentum in March was powered almost entirely by data center projects, with most other sectors easing back,” said DCN Associate Director of Forecasting Sarah Martin.
“For some categories, this reflects a natural reset after the outsized growth in late 2025. But for others, elevated macroeconomic risks are likely beginning to feed into planning decisions,” Martin added.
DCN noted that, “despite recent declines, the DMI remains elevated.” Compared to last year, institutional planning was up 19.6% in March. And while commercial planning was up 28.5%, excluding data centers, the segment declined 12.7% over the same period.
