Steel Markets

Dodge Momentum Index Slips Following 3 Months of Gain

Written by Sandy Williams

The Dodge Momentum Index took a 7 percent drop in March, registering 116.4 from its revised reading of 126.4 for February The Index, which measures the initial report for nonresidential building projects in planning, had been gaining strength over the past three months.

The decline in March was due primarily to a steep 15 percent drop in institutional planning, said Dodge Data & Analytics. Commercial planning fell less than one percent in March. The index is about even with where it was a year ago.

Seven projects exceeding a value of $100 million entered the planning stage last month.

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