{"id":24835,"date":"2024-02-08T17:24:04","date_gmt":"2024-02-09T01:24:04","guid":{"rendered":"https:\/\/essential.construction\/news\/dodge-momentum-index-remains-flat-in-january\/"},"modified":"2024-02-08T17:24:05","modified_gmt":"2024-02-09T01:24:05","slug":"dodge-momentum-index-remains-flat-in-january","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/dodge-momentum-index-remains-flat-in-january\/","title":{"rendered":"Dodge Momentum Index Remains Flat in January"},"content":{"rendered":"

\"-\"<\/a>
\n<\/p>\n

\n

Institutional planning continues to accelerate, while commercial planning ticks down<\/em><\/p>\n

BEDFORD, M.A. \u2013 February 7, 2024 <\/strong>\u2014<\/strong> The Dodge Momentum Index (DMI), issued by Dodge<\/a> Construction Network<\/a> (DCN)<\/u>, rose 0.1% in January to 184.1 (2000=100) from the revised December reading of 183.9. Over the month, commercial planning fell 1.0% and institutional planning improved 2.1%.<\/p>\n

\u201cDivergent trends between commercial and institutional planning continued in January, nullifying any growth on the overall Momentum Index,\u201d stated Sarah Martin, associate director of forecasting for DCN. \u201cNevertheless, lending standards begun to loosen in January and the Fed is expected to begin cutting rates in the back half of the year. With this in mind, momentum should resume in commercial activity throughout 2024 as owners and developers gain confidence in market conditions for 2025.\u201d<\/p>\n

Slower growth in warehouse planning pulled down the commercial portion of the Index this month, while steady education and healthcare planning supported growth on the institutional side. Year over year, the DMI was 3% lower than in January 2023. The commercial segment was down 12% from year-ago levels, while the institutional segment was up 15% over the same period.<\/p>\n

A total of 15 projects valued at $100 million or more entered planning in January. The largest commercial projects included the $200 million renovation of the historic Magnolia Hotel in Dallas, Texas, and the $169 million Microsoft Data Center in Leesburg, Virginia. The largest institutional projects included the $224 million NREL laboratory in Golden, Colorado and the $223 million Wichita State University Biomedical building in Wichita, Kansas.<\/p>\n

The DMI is a monthly measure of the value of nonresidential building projects going into planning, shown to lead construction spending for nonresidential buildings by a full year.<\/p>\n

Watch Associate Director of Forecasting Sarah Martin discuss January\u2019s DMI here.<\/a><\/p>\n<\/p>\n<\/div>\n

\n
\n

###<\/p>\n

About Dodge Construction Network<\/strong>
Dodge Construction Network is a solutions technology company providing 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 longstanding and trusted industry solutions to timely connect and enable decision makers across the entire commercial construction ecosystem. For more than a century, Dodge Construction Network has empowered construction professionals with the information they need to build successful, growing businesses. To learn more, visit\u00a0construction.com<\/a><\/p>\n

Media Contact<\/strong>:
Amy Roepke | am********<\/span>@**********<\/span>on.com<\/span><\/a><\/p>\n<\/div>\n<\/div>\n