Steel Markets
Dodge Momentum Index Increases for Second Month in a Row
Written by Sandy Williams
February 8, 2016
The Dodge Momentum Index rose for the second month in a row, gaining 2.4 percent in January to register 126.4 from a revised December reading of 123.4. The Momentum Index, published by Dodge Data & Analytics, is a measure of the initial report for nonresidential building projects in planning.
The January increase was the result of a 3.3 percent jump in institutional projects and a 1.6 percent increase in commercial projects. The overall index is 1.7 percent higher on a year over year basis.
Commercial planning activity has been up and down the past few months but has been on a generally upward trend, says Dodge. The institutional index recovered from its weak start in 2015 and is now 14.0 percent higher than a year ago.
Ten projects with values exceeding $100 million entered the planning stage in January. The lead commercial projects were a $270 million convention center hotel in San Diego and $140 million office and retail building in Atlanta, Ga. Leading projects for institutional planning were a USDA lab renovation and addition valued at $160 million in Athens, Ga., and a $150 million hospital expansion in Corpus Christi, TX.
The Dodge Momentum Index 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 it’s interactive features, you can do so by clicking here. If you need assistance with either logging in or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Sandy Williams
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