The data just released in the Dodge Momentum Index (DMI) reporting for the month of October indicate a 1.0% increase to 181.7 over September’s revised total of 180.3.

The increase was propelled by a 2.0% rise in the commercial component, while the institutional component dropped by 1.4%. Year over year, the DMI came in 8% lower than in October of 2022. The commercial segment was down by 14%, while the institutional segment was up by 7%.

“Heightened momentum in warehouse planning activity supported the commercial side of the Index this month, while muted education planning activity slowed the institutional portion,” Sarah Martin, the Associate Director of Forecasting for Dodge Construction Network, said in a statement. “Overall levels of planning activity remain robust and will support construction spending over the next 12 to 18 months.”

A total of 21 projects valued at $100 million or more entered planning in the month. The largest commercial project included the $215 million Google Data Center in Kansas City, Missouri, and the $180 million Mauna Kea Beach Hotel in Waimea, Hawaii. The two largest institutional projects to enter planning were the $400 million Grand Sierra Resort Arena in Reno, Nevada, and the $267 million Keller Auditorium renovation in Portland, Oregon.