Dodge Momentum Index Falls Back 7% in October

November 7, 2025

Nonresidential Planning Activity Levels Off After Recent Surge 

BOSTON, MA – November 7, 2025 — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, decreased 7.1% in October to 283.3 (2000=100) from the upwardly revised reading of 304.8. Over the month, commercial planning declined 2.9% and institutional planning slowed by 15.2%. Year-to-date, the DMI is up 35% from the average reading over the same period in 2024.  

“After several months of record-breaking levels, planning momentum slowed in October,” stated Sarah Martin, Associate Director of Forecasting at Dodge Construction Network. “Activity remains solid across the board, especially for data centers and hospitals. However, recent growth should not solely be attributed to gains in real activity. Anticipated increases in labor and material costs are also driving up project expenses and are inflating the overall trend in the DMI. In the coming months, Dodge anticipates activity to continue to decelerate on average, especially as macroeconomic risks continue to mount.” 

On the commercial side, activity slowed down for warehouses and hotels, while planning momentum was sustained for data centers, traditional office buildings and retail stores. On the institutional side, education and healthcare planning have slowed down, after strong activity in recent months. Meanwhile, recreational and public planning continued to grow. Year-over-year, the DMI was up 52% when compared to October 2024. The commercial segment was up 54% (+43% when data centers are removed) and the institutional segment was up 49% over the same period. 

A total of 45 projects valued at $100 million or more entered planning throughout October. The largest commercial project included Buildings 1,2, and 3 on the Amazon Data Center Campus in Hamlet, North Carolina – each valued at $500 million dollars. The $500 million CyrusOne Data Center in Talkington Township, Illinois and the $500 million Hut 8 Corp. Data Center in Batavia, Illinois also topped the list. The largest institutional projects to enter planning were the $400 million Scripps Memorial La Jolla Medical Tower III in San Diego, California, the $260 million SW Life Science Park in Philadelphia, Pennsylvania, and the $198 million Mission Hospital Expansion in Asheville, North Carolina. 

The DMI isa 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 afull year to 18 months.  

 

DMI Oct25 Chart 1

DMI Oct25 Chart 2

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Construction Economics for November 10, 2025

November 5, 2025

ENR’s 20-city average cost indexes, wages and materials prices. Historical data and details for ENR’s 20 cities can be found at ENR.com/economics

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New Study: Project Management Software for Construction Owners and Contractors Increases Profitability, Productivity, and Efficiency for High Skill Users

November 4, 2025

Data Shows 77% of optimized adopters experience increased profit margins and productivity gains for leadership/executive teams

BOSTON, MA – November 4, 2025 – Dodge Construction Network, in partnership with Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced the findings of a new study that measures the value of project management software for construction owners and contractors. The Quantifying the Value of Project Management SmartMarket Brief demonstrates that project management software is an essential tool that creates immediate value, and high user skill and expertise unlocks its full potential to increase operational efficiency and bottom-line impact.

“The construction industry is at an inflection point where realizing the full potential of technology requires more than just implementation. The data shows that investing in technology alone isn’t enough; it must be paired with an investment in people,” said Kris Lengieza, VP, Global Technology Evangelist at Procore. “Optimizing adoption transforms a valuable tool into an engine for margin growth and operational excellence.”

“Across every metric we measured, including cost control, schedule performance, and productivity, organizations with advanced project management software skills delivered measurably better outcomes,” said Donna Laquidara-Carr, Director, Industry Research at Dodge. “The takeaway is not only that technology creates value, but that strong digital competency reliably amplifies it.”

The study, which surveyed more than 1,100 owners and contractors, evaluates project management software usage and the quantifiable benefits experienced across four key categories: improved data gathering and analysis, process improvements, better project performance, and increased business benefits. Respondents were categorized across an expertise spectrum, from light users to highly skilled, innovative adopters.

Creating Immediate Benefits for All Adopters

All organizations, even those with lower adoption levels, report immediate, tangible improvements:

  • The majority of light adopters and users proficient in only basic features at both owner and contractor organizations report immediate improvements in data gathering and data quality, including increased accuracy, more actionable data, and reduced errors from miscommunication or outdated information.
  • More than 50% also experience improved communication and collaboration, partly due to the ability to share more reliable data.
  • Over 70% of owners are able to handle more construction volume, while more than half of contractors see improved productivity and operational efficiency.

Driving Greater Benefits Among Higher Skilled Users 

The research clearly demonstrates a powerful correlation – having greater project management software skills consistently delivers greater benefits. The extent of these gains is striking.

  • On average, more than 80% of respondents at the top of the expertise spectrum experience benefits across all four major categories.
  • In contrast, respondents at the lower end of the expertise spectrum range from 31% to 66% benefit realization, depending on the category.

Improving Bottom-Line Impact

Adopters that are highly skilled not only experience a higher number of benefits but also realize a stronger return on investment.

  • 83% report that overhead costs are reduced by 5% or more.
  • 77% report increased profit margins, with a median increase of 4 points.
  • 77% see productivity gains for their leadership/executive teams, while 69% see gains for their project management/operations and finance teams.
  • 76% report that project delays are reduced by 5 days or more on average.

Delivering Increased Efficiency and Performance for Owners

The study also reveals enhanced benefits for owners with high expertise, specifically impacting capital efficiency and overall project performance. These owners report major improvements, including:

  • 90% agree the software has enabled their teams to manage more capital projects.
  • 88% believe their projects now meet or exceed quality benchmarks.
  • 83% have experienced improved cash flow.
  • 83% have seen a noticeable reduction in project delays.

Read Quantifying the Value of Project Management SmartMarket Brief to get more detailed information on the results.

About Procore

Procore Technologies, Inc. (NYSE: PCOR) is a leading technology partner for every stage of construction. Built for the industry, Procore’s unified technology platform drives efficiency and mitigates risk through AI & data-driven insights and decision making. Over three million projects have run on Procore across 150+ countries. For more information, visit https://www.procore.com/.

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