Steel Markets
Dodge Momentum Index Jumps in June Amid General Slowdown
Written by Sandy Williams
July 8, 2019
The Dodge Momentum Index improved in June, rising 4.0 percent to 146.1 from a revised reading of 140.5 in May. The monthly index measures the first report for nonresidential building projects in planning, which has been shown to lead construction spending by a full year.
Initiation of planning for institutional building projects jumped 6.1 percent, while commercial planning rose 2.4 percent.
Dodge Data & Analytics suggests caution when reviewing the Index report.
“Despite the improvement shown by the Momentum Index in June, planning for commercial and institutional building projects has clearly stepped back from the torrid pace set during the first half of 2018. Indeed, the average of the overall Momentum Index through the first six months of 2019 was 4.3 percent lower than the same period a year ago, with the commercial component down 5.2 percent and the institutional component down 3.0 percent. What June’s improvement does affirm is that the broader pullback by the Momentum Index remains gradual, and that there are still ample projects at the planning stage to maintain stability for construction spending in the near term.”
Seventeen projects valued at $100 million or more entered the planning phase in June.
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
Dodge Momentum drops on moderating data center growth
Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.
US construction spending drops again in August
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]
Global steel production eases in August
Steel mill output around the world totaled 144.8 million metric tons (mt) in August, the lowest monthly rate of 2024.
Dismal ABI suggests weakness in non-res construction will persist
The August Architecture Billings Index (ABI) continued to indicate weak business conditions amongst architecture firms through August, according to the American Institute of Architects (AIA) and Deltek.
AISI: Raw steel production slips to 5-week low
Domestic raw steel mill production eased last week but remains at a healthy rate, according to the latest release from the American Iron and Steel Institute (AISI).