Steel Markets
Dodge Momentum Index Sees Modest Increase in July
Written by Sandy Williams
August 8, 2016
The Dodge Momentum Index, an indicator of nonresidential construction planning, edged ahead 0.5 percent in July to 134.7 after a revision in June to 134.1. The modest increase follows a surge of 10.9 percent the previous month and continues a fourth consecutive month of increases.
Planning for institutional construction increased 0.7 percent in July and commercial planning, 0.4 percent.
“The recent rise in the Index from April through July suggests that planning for construction projects is progressing, albeit in an uneven pattern, despite concerns over the subdued rate of economic growth,” said Dodge Data & Analytics.
Eleven projects exceeding $100 million entered the planning stage in July. The leading commercial projects were a $200 million mixed-use project in Sugar Land, TX and a $161 million office in Fremont, CA. Institutional planning got a boost from hospital construction planning in Chapel Hill, NC and Atlanta, GA.
The Dodge Momentum Index, published by Dodge Data & Analytics, 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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