Steel Markets
Dodge Momentum Index Declines in June
Written by Sandy Williams
July 9, 2020
A measure of the initial report of nonresidential construction projects slipped in June after an upward revision for May. The Dodge Momentum Index posted at 121.5, a 6.6 percent decline from the May index of 130.1. Planning for institutional construction dropped 11.7 percent, while the commercial component fell 3.5 percent.
“The Momentum Index has shifted noticeably lower as the fallout from recession continues to hold its grip on the construction sector,” wrote Dodge Data & Analytics. “The overall Momentum Index fell 13 percent in the second quarter from the first three months of the year, with the commercial component 14 percent lower and the institutional component down 11 percent.
“While the recession has ended and recovery is underway, the return from one of the steepest downturns in U.S. history will be slow and fraught with risk. This holds true for the construction sector as well. While projects continue to enter planning, the slower pace suggests that recovery in the construction sector will be modest in coming months.”
Seven projects valued at $100 million or more entered the planning stage in June.
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
CRU: Sheet import demand softens as domestic price gains have slowed
US domestic sheet price gains have begun to slow as previously pulled-forward demand has led to a decline in orders.
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
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, […]