Dodge Momentum Index Grows 6% in May

BOSTON (June 5, 2026) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 5.9% in May to 275.7 from the downwardly revised April reading of 260.4. Over the month, commercial planning expanded 6.9% and institutional planning momentum grew 3.1%.  

“Nonresidential planning continued to stabilize throughout May,” said Sarah Martin, director of economic research at Dodge Construction Network. 

“Growth in the DMI continued to be led by data center activity, but key sectors — such as healthcare, retail stores and offices — gained momentum as well. Nonetheless, the broader outlook remains cautious, as persistent labor constraints, elevated material costs and ongoing supply chain pressures weigh on owner sentiment in the near term.” 

Over the month, planning activity for traditional office buildings, data centers and retail stores improved, while warehouse, hotel and parking garage planning slowed down. On the institutional side, healthcare planning continued to accelerate in May, alongside government and religious building activity. 

Meanwhile, educational and recreational building momentum slowed down. Year-over-year, the DMI was up 33.8% when compared to May 2025. The commercial segment was up 41.2% (+6.6% when data centers are removed) and the institutional segment was up 17.7% over the same period.  

A total of 29 projects valued at $100 million or more entered planning throughout May. The largest commercial projects included the EDCAUS11 and EDCAUS12 data centers in Bastrop, Texas, each valued at an estimated $437 million. Additionally, the $432 million Wallace Jackson Industrial Park Data Center (Building 4) in Griffin, Georgia, entered the planning queue. The largest institutional planning projects were the $400 million Coast Guard Training Center (TRACEN) modernization project in Cape May, New Jersey; the $400 million Fisk University Innovation Center in Nashville, Tennessee; and the $241 million Harborview Yesler Terrace Medical Office in Seattle, Washington.     

The DMI is a monthly measure based on the three-month moving value of nonresidential building projects going into planning, shown to lead construction spending for nonresidential buildings by a full year to 18 months.  

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