Steel Products
Dodge Momentum Index Rebounds in October
Written by Sandy Williams
November 6, 2017
After four months of decline, the Dodge Momentum Index rebounded 13.2 percentage points in October to a reading of 130.9. 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 has been shown to lead construction spending for nonresidential buildings by a full year.
Commercial and institutional planning both advanced in October, gaining 16.8 percent and 8.3 percent, respectively. On a year-over-year basis, the Momentum Index is now 6.1 percent higher, with the commercial portion up 5.5 percent and the institutional portion up 6.9 percent.
“October’s increase supports the belief that building activity has further room to grow during this cycle,” wrote Dodge. “While month-to-month activity could continue to be volatile, there are enough projects in the pipeline to sustain growth into 2018.”
Twenty projects with a value of $100 million or more entered the planning stage last month.
Below is a graph showing the history of the Dodge Momentum Index. You will need to view the graph on our website to use its interactive features, you can do so by clicking here. If you need assistance logging into or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Galv buyers less optimistic about short-term market
“It was a little more of a seller's market as contractors seemed to be protecting themselves against a potential run up in prices," one buyer said.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
US, offshore CRC prices continue to fall
US cold-rolled (CR) coil prices were down again this week, slipping six weeks in a row and seeing the sharpest drop-off since last July.
Asian HR remains much cheaper than US, EU product
Domestic hot-rolled (HR) coil prices fell this week, now down seven of the last eight weeks.
April service center shipments and inventories report
Flat rolled = 57.6 shipping days of supply Plate = 54.5 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply edged up in April, as shipments slowed. At the end of April, US service centers carried 57.6 shipping days of supply, according to adjusted SMU data. This is up from 56.4 shipping […]