Dodge Momentum Index Drops in April
May 7, 2023
Dodge Momentum Index Drops in April
The Dodge Momentum Index decreased by 5.1% in April moving to 180.9. This was down from the revised March score of 190.6. The loss was led by a decline in commercial planning which dropped 8.0%, while institutional planning increased 0.3%, an essentially flat score.
The decline was expected by Sarah Martin, associate director of forecasting for Dodge Construction Network, who attributed “declining economic conditions and ongoing banking uncertainty” in a press release. Martin continued, “Weaker commercial planning is driving the DMI’s decline, as it is more exposed to real-time economic changes than the largely publicly funded institutional segment.”
| Apr-23 | Mar-22 | % Change | |
| Dodge Momentum Index | 180.9 | 190.6 | -5.1% |
| Commercial Building | 205.4 | 223.2 | -8.0% |
| Institutional Building | 150.5 | 150.1 | 0.3% |
The report by Dodge cited “sluggish office, hotel, and retail activity” as factors contributing to the commercial activity decline. The flatness of the intuitional component was attributed to a weakness in educational planning which offset “growth in healthcare and amusement projects.”
The DMI was 11% higher than April of last year with 7% and 17% higher scores for the commercial and institutional components respectively.
Sources: For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.