Dodge Construction Network
Shared Screenshot Dmi Apr23

Dodge Momentum Index Declined in April on Commercial Pullback

May 9, 2023
As economic uncertainty grows, the national index dropped 5.1% last month due to weak office, hotel, and retail planning activity, according to industry forecasting group.

PRESS RELEASE

HAMILTON, NJ – May 5, 2023 — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, fell 5.1% in April to 180.9 (2000=100) from the revised March reading of 190.6. In April, the commercial component of the DMI fell 8.0%, and the institutional component improved 0.3%.

“On par with our expectations, the Dodge Momentum Index continued to recede in April, due to declining economic conditions and ongoing banking uncertainty.” stated Sarah Martin, associate director of forecasting for Dodge Construction Network. “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.”

Commercial planning in April was pushed down by sluggish office, hotel and retail activity. Institutional planning remained flat, as weak education planning offset growth in healthcare and amusement projects. Year over year, the DMI remains 11% higher than in April 2022. The commercial and institutional components were up 7% and 17% respectively.

A total of 16 projects with a value of $100 million or more entered planning in April. The largest commercial projects included a $268-million warehouse in El Dorado Hills, CA, and a $170-million hotel in New York City. Leading the way on the institutional side were the $450-million Desert Diamond Casino in Glendale, AZ, and the $350-million Global Energy Park research and development laboratory in Golden, CO.

The DMI is a monthly measure of the initial report for nonresidential building projects in planning, shown to lead construction spending for nonresidential buildings by a full year.

About Dodge Construction Network

Dodge Construction Network leverages an unmatched offering of data, analytics, and industry-spanning relationships to generate the most powerful source of information, knowledge, insights, and connections in the commercial construction industry.

The company powers four longstanding and trusted industry solutions—Dodge Data & Analytics, The Blue Book Network, Sweets, and IMS—to connect the dots across the entire commercial construction ecosystem.

Together, these solutions provide clear and actionable opportunities for both small teams and enterprise firms. Purpose-built to streamline the complicated, Dodge Construction Network ensures that construction professionals have the information they need to build successful businesses and thriving communities. With over a century of industry experience, Dodge Construction Network is the catalyst for modern commercial construction. To learn more, visit construction.com.

Media contact: Cailey Henderson | 104 West Partners | [email protected].