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Market Update | July 9, 2025

The June Dodge Momentum Index came in at 225.1, up nearly 7% from May and up over 12% from last June. Within the overall index, both the commercial and institutional planning segments increased, climbing to 7.3% and 5.7%, respectively. Continued strength from planning for warehouse, recreational, and data center projects helped to push the index higher. Planning for other sectors like education, hotels, and retail stores continued to lag. Even if you exclude data center projects over the past two years, commercial planning would be up over 10% from year-ago levels. The DMI tends to lead construction spending for nonresidential buildings by a year.​

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Market Update

Market Update | July 2, 2025

Economic activity in the manufacturing sector contracted in June, albeit at its slowest rate since February. The June Manufacturing PMI came in at 49.0, up from 48.5 in both May and June of last year. Despite the improvement, the index has remained in contraction for four consecutive months. The decent (4.9) jump in the production index, which pushed it into expansion at 50.3, was not enough to overcome the slides seen in new orders (-1.2), employment (-1.8), and backlog of orders (-2.8). Inventories continued to contract in June but at a much slower rate and are now just a tab below neutral.

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Market Update | June 25, 2025

May light vehicle assemblies came in at a 10.92 million unit rate, up 7.5% from April. This marks the highest monthly rate since March 2024. The recent easing of auto tariffs between the U.S. and Canada, combined with the continued 25% tariff on other foreign auto imports, helped push domestic auto assemblies higher. Additionally, the recent drawdown in dealer inventories continues to help spur assemblies domestically.

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Market Update

Market Update | May 28, 2025

After sliding for five consecutive months, the confidence of U.S. consumers rebounded in May. The May Consumer Confidence Index came in 98.0, up 12.3 points from April. The Present Situation Index increased nearly 5.0 points to 135.9. The Expectations Index, based on a short-term outlook, increased a sharp 17.4 points to 72.8. Despite the jump, the current level remains below the key threshold of 80, which typically signals a recession ahead. The boost in May came as the framework for potential widespread trade deals became clearer.

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