Steel Markets

Dodge Momentum Index Tumbles in October

Written by Sandy Williams

The Dodge Momentum Index moved lower in October, dropping 4.2 percent from September to a reading of 150.5. The index, published by Dodge Data & Analytics, is a monthly measure of the first report for nonresidential projects in planning, which have been shown to lead construction spending by a full year.

Commercial and institutional planning both declined in October resulting in the overall index decline. Planning for commercial projects fell 4.9 percent from September and institutional planning fell 3.1 percent.

“This is consistent with the view that the commercial building sector is approaching a peak and should begin to gradually ease back over the coming year,” wrote Dodge Data & Analytics. “The institutional component, meanwhile, has been relatively more stable due to the availability of public funds for projects such as schools and airport terminals.”

Ten projects valued at $100 million or more entered the planning phase in October.

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