Steel Markets
Dodge Momentum Index Continues Upward Trend in February
Written by Sandy Williams
March 7, 2016
The Dodge Momentum Index rose 0.5 percent in February to 126.1 from a revised reading of 125.5 in January, a third consecutive monthly increase. The index is a monthly measure of the initial report for nonresidential building projects and has been show to lead construction spending for nonresidential buildings by a full year.
Commercial planning led the increase with a 1.0 percent gain which offset a slight 0.1 percent dip for institutional planning. Commercial planning activity is still below 2015 levels but is making a moderate recovery according to Dodge Analytics. Institutional planning continues to be above 2015 levels and on a generally upward trend.
Seven nonresidential building projects exceeding a value of $100 million began the planning phase in February.
The Dodge Momentum Index is created by summing the dollar value of Dodge’s first-reported nonresidential building projects in planning during a given month. The data is seasonally adjusted and a three-month moving average is applied to reduce the volatility and random variation in the monthly data. The resulting smoothed data provides a better fit between the index and construction spending statistics.
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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