January 10, 2024

Dodge Momentum Index Up 3% In December

The Dodge Momentum Index improved by 3% in December moving to 186.6. This was up from the revised November score of 181.5. Commercial and institutional planning both increased by 1% and 6.1% respectively.

Sarah Martin, associate director of forecasting for Dodge Construction Network, stated “The Momentum Index ended the year 11% below the November 2022 peak, ultimately stabilizing as the year progressed. Regardless, the DMI averaged a reading of 184.3 in 2023, hitting levels of activity that haven’t been recorded since 2008.”

Martin continued, “While ongoing labor and construction cost issues will persist in 2024, a substantive amount of projects are sitting in the planning queue and will support construction spending going into 2025.” Dodge stated that the commercial growth was driven by hotel and data center planning while the institutional growth was supported by increased healthcare and public building activity.

From a yearly perspective The DMI was 2% lower than in December of the previous year with commercial activity 9% lower and institutional planning 14% higher.

Sources: For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.