b'BEDFORD, M.A.November 7, 2024The Dodge Momentum Index (DMI), issued by Dodge Construction Network, decreased 5.3% in October to 197.2 (2000=100) from the revised September reading of 208.2. Over the month, commercial planning fell 6.7%, and institutional planning declined 2.0%. In addition to data center planning normalizing, a moderate pullback in the number of planning projects for several other nonresidential sectors also contributed to the decline in the Dodge Momentum Index for October, stated Sarah Martin, associate director of forecasting at Dodge Construction Network. Regardless, owners and developers remain confident in next years market conditions, and the planning queue remains poised to spur stronger construction activity in 2025, following deeper rate cuts by the Fed. Most commercial categories faced declines throughout October, aside from hotel planningwhich continued to gain momentum. On the institutional side, educationMedia Contact: and public planning activity expanded, offset by| pr@construction.com weaker activity in healthcare, recreational, and religious projects. This month, the DMI was 13% higher than in October of 2023. The commercial segment was up 18% from year-ago levels, while the institutional segment was up 3% over the same period. The influence of data centers on the DMI this year has been substantial. If we remove all data center projects from January toConstruction industry leaders were more confident in October, commercial planning would be down 4%October, according to Associated Builders and Contractors.from year-ago levels, and the entire DMI would be down 2%.Two of the three components of ABCs Construction Confidence Index increased for the month, and all were above A total of 18 projects valued at $100 million or morethe diffusion index threshold of 50. entered planning throughout October. The largest In October, ABCs Construction Confidence Index increased from 58.1 to 59 for sales expectations and from 58.2 commercial projects included $450 millionto 58.6 for staffing levels. The index fell from 50.9 to 50.8 for EdgeCloudLink Data Center in Houston, Texas and theprofit margin expectations. $410 million GFT Hotel in Arlington, Texas. The Additionally, ABCs Construction Backlog Indicator largest institutional projects to enter planning were thefell from 8.6 months in September to 8.4 months in October, $300 million Kellogg School Building at Northwesternwhich is unchanged from October 2023.While backlog declined in October, it remains at a University and the $270 million Primrose School ofhealthy level and has been remarkably stable over the past Stevens Ranch in San Antonio, Texas.year, said ABC Chief Economist Anirban Basu. Like much of the economy, the construction industry remained in some The DMI is a monthly measure of the value ofsemblance of a holding pattern in October as project owners continue to wait for election outcomes and for interest rates to nonresidential building projects going into planning,decline further. Despite this wait-and-see attitude, contractors shown to lead construction spending for nonresidentialremain upbeat about the next two quarters. Approximately buildings by a full year. 53% of ABC members expect their sales to increase over the next six months, while just 22% expect them to decline. 12'