
Core Report | October 10, 2025
A leading indicator for future nonresidential construction spending continued to push higher in September. The September Dodge Momentum Index came in at 304.6, up from a downwardly revised 294.7 in August.
A leading indicator for future nonresidential construction spending continued to push higher in September. The September Dodge Momentum Index came in at 304.6, up from a downwardly revised 294.7 in August.
The September Dodge Momentum Index came in at 304.6, up from a downwardly revised 294.7 in August. Compared to August, commercial planning grew by 4.7%, while institutional planning increased by 0.9%. On the commercial side, activity slowed for warehouses, offices, and hotels, while gaining momentum in data centers and retail. On the institutional side, education and recreational planning slowed while healthcare and public planning grew. Planning momentum remained steady and will correlate to stronger construction spending in the back half of 2026 and into 2027.
September light vehicle sales came in at a 16.4 million unit rate, up 3.8% from August and up 2.1% from the 15.8 million unit rate in September 2024. Light vehicle sales have now increased for the fourth consecutive month.
Coated sheet lead times pushed higher this week after holding steady through much of the summer. Average lead times now sit at 6.8 weeks, up from 6.3 weeks last week, reaching the highest level since April.
A key measure of non-residential building project planning increased sharply again in August after a very sharp increase in July. The August Dodge Momentum Index came in at 301.4, up 7.5% from 279.9 in July.
Q2 growth in the U.S. economy accelerated at a faster rate than initially calculated. The second estimate of Q2 GRP showed an annual increased of 3.3%, up from the initial calculation of 3.0% growth.
Q2 growth in the U.S. economy accelerated at a faster rate than initially calculated. The second estimate of Q2 GRP showed an annual increased of 3.3%, up from the initial calculation of 3.0% growth.
Now down for the second time in the last three months, July new home sales came in at a 652,000 unit rate, down 0.6% from June and down 8.2% from the 710,000 unit rate last July.
New housing starts increased sharply in July on the back of stronger apartment complex starts. New housing starts came in at a 1.428 million unit rate, up 5.2% from June and up 12.9% from the 1.265 million unit rate last July.
On the back of stronger apartment complex starts, new housing starts came in at a 1.428 million unit rate, up 5.2% from June and up 12.9% from the 1.265 million unit rate last July. The jump in July starts comes on the back of upwardly revised readings in both May and June.