Steel Markets

Dodge Momentum Index Increases for Sixth Month

Written by Sandy Williams

The Dodge Momentum Index gained 0.9 percent in March to register 144.4. The March reading is the sixth consecutive monthly increase and has been driven mostly by new projects in institutional building.

The index is a monthly measure of the initial report for nonresidential buildings in planning and leads construction spending for buildings by a full year. The index is considered an indicator of future construction growth.

Institutional building planning increased by 3.7 percent in March, while commercial building declined 1.2 percent

Dodge Data & Analytics writes, “However, the overall Momentum Index, as well as the commercial and institutional components, are well above their year-ago levels. This continues to signal the potential for increased construction activity in 2017 despite the short-term setbacks that are inherent in the volatile month-to-month planning data.”

Eight projects with a value exceeding $100 million entered the planning stage in March.

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