Steel Markets

Dodge Momentum Index Indicates Construction Health
Written by Sandy Williams
June 6, 2018
The Dodge Momentum Index, a measure of the first report for nonresidential buildings in planning and an indicator of future construction, rose 1.8 percent in May to a score of 167.8. Commercial construction planning drove the increase in May, gaining 4.7 percent while the institutional component of the Index fell 2.4 percent.
Dodge Data & Analytics notes that the index has posted steady gains this year, reaching levels from mid-2008. The index hit bottom in July 2011 and still hasn’t reached the previous peak set in 2007. The cycle of expansion is much more drawn out than the last cycle.
The May reading suggests construction will remain at a healthy rate for nonresidential spending for the remainder of the year.
Sixteen projects valued at $100 million or more entered the planning phase in May, including $300 million commercial projects in New Jersey and California and $300 million institutional projects in Wisconsin and Texas.
The 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.
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 in to or navigating the website, please contact Brett at 706-216-2140 or Brett@SteelMarketUpdate.com.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

Apparent steel supply rebounds in December, but 2024 total at 4-year low
Apparent US steel supply rebounded in December, but 2024 was still the lowest level for supply since 2020.

Trump officially orders sweeping 25% tariff on steel, aluminum
The new version of Section 232 goes into effect on 12:01 am ET on March 12, according to the executive order. The latest iteration of Section 232 removed quotas, exemptions, and other carve outs that had accumulated over years.

Tampa Steel Conference: Two weeks to go!
With just two weeks to go, we have over 400 registered so far for the 36th annual Tampa Steel Conference. Join us and hundreds of industry executives at the JW Marriott Tampa Water Street from Sunday, February 2, through Tuesday, February 4.

Galvanized buyers see glimmers of optimism amidst the chaos
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.

Construction spending steady in November
Construction spending inched higher in November for a second straight month.