Steel Markets
Plans for Commercial Construction Pull Dodge Momentum Index Down
Written by Sandy Williams
June 8, 2019
The Dodge Momentum Index, a monthly measure of the initial report for nonresidential buildings in planning, slipped 1.4 percent in May to a reading of 141.0 from a revised reading of 142.4 in April.
The commercial component of the index dropped 6.9 percent while the institutional component rose 8.1 percent. On a year-over-year basis, the index declined 9.2 percent as a 16 percent dive by the commercial component outweighed a 1.8 percent gain in institutional planning.
“Although the trend for the overall Momentum Index is downward, so far the pullback has been measured, suggesting that there remain enough nonresidential building projects in the pipeline to support near term stability for construction activity,” said Dodge Data & Analytics. “This is particularly true for the institutional side of nonresidential building.”
Fourteen projects valued at $100,000 or more entered the planning stage in May.
The Dodge Momentum Index is published by Dodge Data & Analytics and 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.
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 in to or navigating the website, please contact us at info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Apparent steel supply rebounds in December, but 2024 total at 4-year low
Apparent US steel supply rebounded in December, but 2024 was still the lowest level for supply since 2020.