Steel Markets
Dodge Momentum Index Gains on Jump in Commercial Construction Planning
Written by Sandy Williams
October 9, 2019
The Dodge Momentum Index gained 4.1 percent for a reading of 143.6 in September due to an increase in plans for commercial construction projects. The commercial component jumped 8.9 percent while the institutional component fell 4.8 percent.
The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
The Index averaged 140.1 for the third quarter of 2019, just 0.7 percent higher than the second quarter and 8.6 percent lower than Q3 2018.
“While the dollar volume of projects in planning is certainly lower than it was a year ago, the index has moved more sideways than downward over the last two quarters,” said Dodge Data & Analytics.
Fifteen projects valued at $100 million or more entered the planning stage in September.
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Sandy Williams
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