Steel Markets
Dodge Momentum Index: Non-Residential Construction Increased in October
Written by Sandy Williams
November 15, 2014
The Dodge Momentum Index, an indicator of nonresidential construction intentions, rose 7.6 percent in October. The following is the press release from Dodge Data & Analytics.
NEW YORK – NEW YORK – The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6 according to Dodge Data & Analytics. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The Momentum Index had declined in each of the previous three months, and the increase in October returns the Index to the rising trend seen during the first half of this year. The Momentum Index now stands 18% above last year, which indicates that overall healthy economic growth is working its way through to the construction sector.
The October rise in the Momentum Index was the result of greater planning activity for its two main segments – institutional building, up 8.8% for the month; and commercial building, up 6.8%. There were six commercial building projects exceeding $100 million that entered into planning during the month: the $200 million Potomac Yard Office Building in Alexandria VA, the $200 million Waterfront Office Development in Austin TX, a $150 million warehouse in Eastvale CA, the $125 million Hudson Hotel in Philadelphia PA, a $100 million Phase 2 rehabilitation of the Constitution Gardens in Washington DC, and the $100 million Stadium Walk in Atlanta GA.
Below is an interactive graphic of the Dodge Momentum Index History, but it can only be seen when you are logged into the website and reading the newsletter online. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.
{amchart id=”125″ Dodge Momentum Index}
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Fitch warns more tariffs will pressure global commodity markets
“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.
Latin America’s steel industry grapples with declining demand, rising imports
With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.
CRU: Trump tariffs could stimulate steel demand
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.
HVAC shipments slip in September but are still trending higher
Following a strong August, total heating and cooling equipment shipments eased in September to a five-month low, according to the latest data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).