Dodge Momentum Index Ticks Down In February

March 19, 2024

Dodge Momentum Index Ticks Down In February

The Dodge Momentum Index decreased by 1.4% in February moving to 180.5. This was down slightly from the revised January score of 183.0. Commercial planning lowered by 2.3%, and institutional planning increased by 0.1%.

Sarah Martin, associate director of forecasting for Dodge Construction Network, stated, “Weaker office and healthcare planning constrained nonresidential planning in February.”

Feb-24 Jan-24 % Change
Dodge Momentum Index 180.5 183.0 -1.4%
Commercial Building 202.2 206.9 -2.3%
Institutional Building 153.7 153.5 0.1%

Martin continued, “However, the Index remains 25% higher than where it was just two years ago. Most other categories showed growth over the month and Dodge remains optimistic that nonresidential planning will stay elevated throughout 2024 alongside rising confidence in 2025 market conditions.”

Dodge stated the commercial slowdown was driven by less office planning last month, while institutional planning was led by education which offset slower healthcare and amusement activity. From a yearly perspective The DMI was 1% higher than February of last year, with commercial activity 10% lower and institutional planning 27% higher.

Sources: For more information about the Dodge Momentum Index, visit the Dodge Data & Analytics website.