Market Data
September 8, 2026
Dodge Momentum Index eased in August
Written by David Schollaert
The Dodge Momentum Index (DMI) edged down in August from a downwardly revised July reading.
The marginal decline was driven by a slowdown in data center planning, though broad strength across nonresidential planning helped keep the index broadly flat compared with July.
The Dodge Construction Network (DCN) reported a DMI reading of 282.0 for August, off 0.4% from July’s downwardly revised reading of 283.0.
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.
Commercial planning slowed 3.0% month over month (m/m) as data centers, retail stores and warehouses declined in August. Still, office buildings, parking garages, and hotels all accelerated.
Institutional planning grew 4.9% m/m, as education, recreational, and public buildings all saw an improved planning pipeline. Healthcare activity eased a bit after four months of sustained planning growth.
“Strength in planning momentum remained relatively broad-based in August,” said DCN Director of Economic Research Sarah Martin. “Weaker data center planning predominantly drove the flatter trend, while most other sectors saw an acceleration in planning momentum.”
DCN noted that compared to last year, growth was widespread. The headline index rose 4.2% vs. a year ago, with commercial and institutional planning posting gains of 2.3% and 7.8%, respectively.
Still, data centers account for all commercial growth. Excluding the server farm boom, the segment would be down 18.9% from year-ago levels, the report said.
