Dodge Momentum Index Gained 2.9% In August
September 10, 2024
Dodge Momentum Index Gained 2.9% In August
The Dodge Momentum Index rose 2.9% in August, moving to 220.4. This was up from the revised July score of 214.2. Commercial planning increased 1.9%, and institutional planning gained 5.7%.
Sarah Martin, associate director of forecasting for Dodge Construction Network, stated, “Owners and developers continued to prime the planning queue in August, ahead of next year’s anticipated stronger market conditions.”
| Aug-24 | Jul-24 | % Change | |
| Dodge Momentum Index | 220.4 | 214.2 | 2.9% |
| Commercial Building | 287.4 | 282.1 | 1.9% |
| Institutional Building | 137.6 | 130.2 | 5.7% |
Martin continued, “With the Fed’s September rate cut all but finalized, the influence of selective lending standards and inflation should moderate next year, alongside a modest upgrade to consumer demand. As a result, stronger planning activity was widespread in August, with most nonresidential sectors seeing growth.”
From a year over year prospective, Dodge stated that the DMI was 31% higher than August of 2023. Commercial activity was up 42% while institutional planning was up 8%.
Sources: For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.