Steel Markets
Dodge Momentum Index Dips in January
Written by Sandy Williams
February 11, 2015
The Dodge Momentum Index fell 4.8 percent in January as a result of decreased planning activity in both commercial and institutional construction sectors. The January decline to 121.1 follows a jump of 11.7 percent in final three months of 2014, continuing a hesitant upward trend. On a year over year basis, the Index rose 5.8 percent.
Institutional planning fell 10.2 percent in January, while commercial construction planning fell 0.4 percent. Plans for three new commercial projects exceeding $100 million were initiated last month—one in Texas and two in New York. Four institutional projects exceeding $100 million began planning in January.
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}
Sandy Williams
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