Steel Markets

Dodge Momentum Index Gains in February

March 10, 2015

The Dodge Momentum Index rose 4.3 percent to 126.3 in February from 121.1 in January, according to Dodge Data & Analytics. The index has shown volatility over the last three months, up in December down in January and up again in February. On a year over year basis the index is up 17 percent indicating an overall positive, if moderate, trend for nonresidential construction planning.

Planning activity in the institutional sector jumped 6.0 percent while commercial planning rose 3.3 percent. Seven projects exceeding $100 million entered into the planning phase in February—six commercial and one institutional. The largest is a $225 million public safety complex planned for Philadelphia, PA.

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}