Dodge Momentum Index falls 0.4% in August amid cooling data center planning

The Dodge Momentum Index (DMI) declined by 0.4% in August to 282.0, following a downwardly revised July reading. While overall nonresidential construction planning remained relatively flat, the movement was driven by a slowdown in data center planning, which offset growth in other sectors.

In the commercial sector, planning for office buildings, hotels, and parking garages increased, while activity for retail stores, warehouses, and data centers slowed. Notably, if data center activity is excluded, the commercial segment would show a year-over-year decline of 18.9% due to the high baseline set in late 2025.

Institutional planning saw a 4.9% increase, led by gains in education, recreational, and public buildings. However, healthcare activity experienced a slight pullback after four months of growth. On a year-over-year basis, the DMI rose 4.2% compared to August 2025.

Major projects entering the planning stage in August included two EdgeConneX data centers in Bastrop, Texas, valued at $462 million each, and a $378 million Bitdeer data center in Ohio. Significant institutional projects included the Colosseum Sports Resort and the Commonwealth Courts Building in Virginia, both valued at $350 million.