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Landscape Architect Articles
2023 Economic Review & 2024 Outlook - Nonresidential Construction01-31-24 | Feature

2023 Economic Review and 2024 Outlook - Total Nonresidential Construction Spending

Non- Residential
by Staff

Total Nonresidential Construction Spending

The Dodge Momentum Index (DMI) rose 1% in October to 181.7, with the commercial component increasing by 2.0% while the institutional component dipped 1.4% from the previous month. Warehouse planning drove commercial growth, but education and healthcare activity slowed. Despite being 8% lower year-over-year, overall planning activity remained strong as 21 projects, valued at $100 million or more, entered planning in October, supporting construction spending for the next 12 to 18 months. Notable projects entering planning include the $215 million Google Data Center in Kansas City and the $180 million Mauna Kea Beach Hotel in Hawaii.


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