Dodge Momentum Index Pulls Back 5.3% in October
November 12, 2024
Dodge Momentum Index Pulls Back 5.3% in October
The Dodge Momentum Index receded 5.3% in October, moving to 197.2. This was down from the revised September score of 208.2. Commercial planning dropped 6.7%, and institutional planning lowered 2.0%.
Sarah Martin, associate director of forecasting for Dodge Construction Network, stated, “In addition to data center planning normalizing, a moderate pullback in the number of planning projects for several other nonresidential sectors also contributed to the decline in the Dodge Momentum Index for October.”
| Oct-24 | Sep-24 | % Change | |
| Dodge Momentum Index | 197.2 | 208.2 | -5.3% |
| Commercial Building | 243.4 | 260.9 | -6.7% |
| Institutional Building | 140.1 | 143.0 | -2.0% |
Martin continued, “Regardless, owners and developers remain confident in next year’s market conditions, and the planning queue remains poised to spur stronger construction activity in 2025, following deeper rate cuts by the Fed.”
From a year over year prospective, Dodge stated that the DMI was 13% higher than October of 2023. Commercial activity was up 18% while institutional planning was up 3%.
Sources: For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.