Steel Markets
Dodge Momentum Index Retreats in August
Written by Sandy Williams
September 11, 2018
The Dodge Momentum Index fell 2.9 percent in August to a reading of 164.1. The Momentum index is a monthly measure of the initial report for nonresidential building projects in planning.
Commercial construction led the decrease, falling by 6.1 percent after rising 25 percent in the first seven months of 2018.
“While commercial planning did fall in August, the trend remains positive, fueled by strong economic growth and still-healthy real estate fundamentals,” said Dodge Analytics.
The growth rate for projects in planning for institutional building was more restrained. From January through July, institutional projects in planning rose 11 percent and gained another 2.5 percent in August.
Nine projects with a value of $100 million or more entered the planning stage in August.
The Momentum Index, published by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which has been shown to lead construction spending for nonresidential buildings by a full year.
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.