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.