Steel Markets
Dodge Momentum Index Indicates Nonresidential Recovery for 2015
Written by Sandy Williams
January 14, 2015
The Dodge Momentum Index, a monthly measure of initial reports for nonresidential building projects in planning, rose 4.0 percent from a revised 123.8 in November to 128.7 in December. The reading is the highest since February 2009 and an increase of 17 percent year over year.
“The increases seen in the Index in 2014 are a signal that the construction recovery will continue into 2015,” wrote Dodge in the latest report.
Planning activity in the commercial sector rose 4.1 percent in December with nine commercial building projects exceeding $100 million that began the planning stage during the month. Project planning in the institutional sector rose 3.8 percent.
The Dodge Momentum Index, published monthly by Dodge Data & Analytics, leads construction spending by a full year and can be used an indicator for future construction. Any reading above 100, established for year 2000, indicates growth in construction planning. The Dodge Index is of particular interest to the steel community due to the higher use of steel products in nonresidential construction.
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
Tampa Steel Conference: Two weeks to go!
With just two weeks to go, we have over 400 registered so far for the 36th annual Tampa Steel Conference. Join us and hundreds of industry executives at the JW Marriott Tampa Water Street from Sunday, February 2, through Tuesday, February 4.
Galvanized buyers see glimmers of optimism amidst the chaos
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
Construction spending steady in November
Construction spending inched higher in November for a second straight month.
Steady architecture billings signal improving conditions
The November ABI decreased month over month but was still the third-highest reading of the past two years.
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.