Dodge Momentum Index Down 1% In November
December 13, 2023
Dodge Momentum Index Down 1% In November
The Dodge Momentum Index decreased by 1% in November moving to 179.2. This was down from the revised October score of 181.7. Commercial and institutional planning were both down 1% as well.
Sarah Martin, associate director of forecasting for Dodge Construction Network, stated “While both portions of the Momentum Index saw slower momentum in planning, overall levels remain steady and will support construction spending in 2024 and 2025.”
| Nov-23 | Oct-23 | % Change | |
| Dodge Momentum Index | 179.2 | 181.7 | -1.4% |
| Commercial Building | 209.5 | 212.4 | -1.4% |
| Institutional Building | 141.7 | 143.8 | -1.5% |
Martin continued, “Nonresidential planning activity will remain constrained from stronger growth amidst ongoing labor and construction cost challenges.”
Year over year, The DMI was 14% lower than November of last year with -20% and +2% for the commercial and institutional components respectively. Dodge also noted that nonresidential planning remains historically elevated despite the overall decline.
Sources: For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.