Steel Markets
Dodge Momentum Index Gains for Second Month
Written by Sandy Williams
December 9, 2017
The Dodge Momentum Index climbed 13.9 percent to 149.5 in November. 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.
Construction planning was softer from June through September, but November’s strong gains followed a healthy October. Commercial construction planning grew 19.6 percent from October, while institutional construction planning gained 5.5 percent. The Momentum Index is up 21 percent on a year-over-year basis, with commercial up 24 percent and institutional up 17 percent.
“The turnaround in October and November suggests that building activity should continue to expand in 2018,” said Dodge.
During November, 21 projects valued at $100 million or more entered the planning stage.
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 Markets
Hot-rolled sources say demand continues to dwindle, prices feel arbitrary
Genuine demand, they stated, will return when the market feels stable again.
FabArc Steel Supply completes projects in Mississippi, Georgia
FabArc Steel Supply announced this week the completion of two large-scale projects in Georgia and Mississippi.
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
Worldsteel: Global steel demand flat, but modest rebound forecast for 2026
The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...