Steel Markets
Dodge Momentum Index Declines in February
Written by Sandy Williams
March 7, 2019
The Dodge Momentum Index, a measure of the initial report for nonresidential construction projects in planning, fell 4.4 percent to 146.9 in February after rebounding in January.
“Since November, the Momentum Index has re-established a sawtooth pattern that’s often been present in recent years,” said Dodge Data & Analytics. “It’s also become clear that the average level of activity has downshifted slightly since the summer of 2018. From April through August last year, the average level of the Momentum Index was 158.6, while from September through the latest month the average is 150.3 – a decline of 5.2 percent. This shift continues to suggest that the growth in construction activity will moderate over the coming year.”
The report shows that planning in both the institutional sector and commercial sector slowed last month, falling 5.9 percent and 3.4 percent, respectively.
Nine projects with a value of $100 million or more entered the planning phase in February.
The Dodge Momentum Index is published by Dodge Data & Analytics and is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have 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 us at info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
USW cheers Evraz NA agreement with Atlas Holdings
The United Steelworkers (USW) labor union celebrated recent news of the signed agreement between Atlas Holdings and Evraz NA in which the Connecticut-based private equity company said it plans to acquire North America’s Evraz facilities.
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
Hot-rolled coil buyers continue seeking certainty
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.
Latin American steel advocates warn on cheap import flood
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.
CRU: Steel prices fall amid global demand weakness
The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.