Steel Markets
Dodge Momentum Index up 18 percent Y/Y
Written by Sandy Williams
December 7, 2016
The Dodge Momentum Index gained 0.3 percent in November after breaking a five month streak of increases in October. The Dodge Momentum Index, published by Dodge Data & Analytics, 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 index has increased 10 out of the last 12 months and is 18 percent higher than its reading in November 2015.
Commercial activity led the gain last month, with a 4.1 percent increase from October. Commercial planning has gained 35 percent year over year after a weak start in 2016. Institutional planning was down 5.2 percent in November and is 2 percent lower year over year.
“While trending higher over the last year, volatility has been the hallmark of the Momentum Index in 2016, matching the uneven pace of growth in the overall economy. It is likely that the volatility will persist in the months ahead,” said Dodge Analytics.
Seven projects exceeding $100 million each entered the planning stage in November.
Below is a graph showing the history of the Dodge Momentum Index. You will need to view the graph on our website to use its interactive features, you can do so by clicking here. If you need assistance logging into or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
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.