Dodge Momentum Index Gained 2.7% In May
June 12, 2024
Dodge Momentum Index Gained 2.7% In May
The Dodge Momentum Index rose 2.7% in May, moving to 179.0. This was up from the revised April score of 174.3. Commercial planning increased 5.5%, while institutional planning dropped 3.4%.
Sarah Martin, associate director of forecasting for Dodge Construction Network, stated, “Owners and developers are gaining confidence in 2025 market conditions, alongside more stable and predictable interest rates – spurring stronger commercial activity over the month.”
| May-24 | Apr-24 | % Change | |
| Dodge Momentum Index | 179.0 | 174.3 | 2.7% |
| Commercial Building | 230.6 | 218.7 | 5.5% |
| Institutional Building | 115.2 | 119.3 | -3.4% |
Martin continued, “Conversely, after last year’s growth, institutional planning is decelerating, as high material costs, labor shortages, and elevated interest rates seep into planning decisions. The overall DMI remains 40% higher than May 2019 levels, indicating a steady pipeline of construction projects that will be ready to break ground through mid-2025.”
From a year over year prospective, Dodge stated that the DMI was 7% lower than May of 2023. Commercial activity was up 8% while institutional planning was down 32%.
Sources: For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.