Dodge Momentum Index Down In March
April 13, 2023
Dodge Momentum Index Down In March
The Dodge Momentum Index dropped by 8.6% in March moving to 183.7. This was down from the revised February score of 201.0. The commercial planning index dropped 6.6% and the institutional component lost 12.9%.
“We are predicting the Dodge Momentum Index to work its way back to historical norms throughout 2023, concurrent with weaker economic conditions,” said Sarah Martin, associate director of forecasting for Dodge Construction Network.
On a yearly basis the DMI was 24% higher than last March with the commercial component up 37%, and the institutional component up 2%.
| Mar-23 | Feb-22 | % Change | |
| Dodge Momentum Index | 183.7 | 201.0 | -8.6% |
| Commercial Building | 231.2 | 247.4 | -6.6% |
| Institutional Building | 125.0 | 143.5 | -12.9% |
Martin continued, “Lending standards for small banks in particular have substantially tightened as banking insecurity intensifies. As a result, owners and developers are more likely to pullback in the short-term, which would further contract the DMI as we continue into the year.”
For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.