Bolstered by improvements in warehouse planning, the Dodge Momentum Index (DMI) increased by 1% in October to 181.7 from a revised September reading of 180.3. Dodge Construction Network (DCN), which releases the monthly index, also reports the commercial segment of the DMI rose by 2%, and the institutional component fell by 1.4%.

Bolstered by improvements in warehouse planning, the Dodge Momentum Index increased by 1% in October to 181.7 from a revised September reading of 180.3. Photo courtesy of Marcin Jozwiak / Unsplash.

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.

“Heightened momentum in warehouse planning activity supported the commercial side of the Index this month, while muted education planning activity slowed the institutional portion,” says Sarah Martin, DCN’s associate director of forecasting. “Overall levels of planning activity remain robust and will support construction spending over the next 12 to 18 months.”

While warehouse planning supported commercial growth, DCN officials say education and healthcare activity slowed in September. They add the DMI was 8% lower than in October 2022. The commercial segment was down 14%, while the institutional segment was up 7%.

Twenty-one projects valued at $100 million or more entered planning in October. The largest commercial projects to enter planning included the $215 million Google Data Center in Kansas City and the $180 million Mauna Kea Beach Hotel in Waimea, Hawaii. The largest institutional projects to enter planning included the $400 million Grand Sierra Resort Arena in Reno and the $267 million renovation of Keller Auditorium in Portland.

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