Steel Markets
Dodge Momentum Index Dips in January
Written by Sandy Williams
February 11, 2015
The Dodge Momentum Index fell 4.8 percent in January as a result of decreased planning activity in both commercial and institutional construction sectors. The January decline to 121.1 follows a jump of 11.7 percent in final three months of 2014, continuing a hesitant upward trend. On a year over year basis, the Index rose 5.8 percent.
Institutional planning fell 10.2 percent in January, while commercial construction planning fell 0.4 percent. Plans for three new commercial projects exceeding $100 million were initiated last month—one in Texas and two in New York. Four institutional projects exceeding $100 million began planning in January.
The Dodge Momentum Index, a monthly measure of the first (or initial) report for nonresidential building projects in planning, leads construction spending by a full year and can be used an indicator for future nonresidential construction. Any reading above 100, established for year 2000, indicates growth in planning activity. The index is published by McGraw Hill Construction, a division of McGraw Hill Financial. The Dodge Index is of particular interest to the steel community due to the high 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.