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.