Economy
Dodge Momentum Index Ticks Up in October
Written by Becca Moczygemba
November 7, 2023
The Dodge Momentum Index (DMI) increased in October thanks to stronger commercial activity, according to the latest Dodge Construction Network (DCN) data.
The DMI improved 1% to 181.7 from September’s revised reading of 180.3, but was 8% lower than the same time last year.
“Heightened momentum in warehouse planning activity supported the commercial side of the Index this month, while muted education planning activity slowed the institutional portion,” Sarah Martin, associate director of forecasting for Dodge Construction Network, said in a statement. “Overall levels of planning activity remain robust and will support construction spending over the next 12 to 18 months.”
Despite strong growth in September, education and healthcare activity slowed in October, DCN said. Advancements in warehouse planning helped commercial growth, it noted.
Month over month, the commercial segment of the DMI increased 2%, while the institutional component fell 1.4%, DCN said. The commercial portion was down 14% year over year, and the institutional area rose 7%
Dodge is the leading index for commercial real estate, using the data of planned nonresidential building projects to track spending in the important steel consuming sector for the next 12 months. An interactive history of the DMI is available on our website.
Becca Moczygemba
Read more from Becca MoczygembaLatest in Economy
ISM: US manufacturing poised for growth in 2025
“Manufacturers are optimistic,” said Timothy R. Fiore, chair of ISM’s Manufacturing Business Survey Committee.
New York state manufacturing activity stable in December
Following a substantial recovery in November, business activity in New York state’s manufacturing sector held steady in December, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
Ternium chief say Mexico tariffs ‘irrational’
Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.
Beige Book shows some positive economic activity
Still, many businesses noted increased sensitivity to prices and quality among customers.