Steel Markets
Dodge Momentum Index Dips in February
Written by Sandy Williams
March 6, 2020
Nonresidential construction planning slowed in February, according to the latest report from Dodge Data & Analytics. The Dodge Momentum Index moved 1.8 percent lower to 148.7 from the revised January reading of 151.4. The Momentum Index is a monthly measure of initial reports for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
February’s decline occurred in both components of the Index, with the commercial component falling 2.1 percent and the institutional component declining by 1.2 percent.
While the overall Momentum Index has declined for two consecutive months, it remains 11 percent higher on a year-over-year basis. The commercial component is 20 percent higher than a year ago, while the institutional component is 2 percent lower. This continues to suggest that construction activity should remain near its recent highs in 2020, said Dodge.
In February, six projects valued at $100 million or more entered the planning stage.
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
Worldsteel: Global steel demand flat, but modest rebound forecast for 2026
The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...
Great Lakes iron ore cargoes down in September as Cleveland tonnage slips
Iron ore shipments from US Great Lakes ports fell sharply in September, per the latest from the Lake Carriers’ Association (LCA) of Westlake, Ohio.
HVAC equipment shipments down through August
Although total HVAC shipments fell in August, YTD volumes remain relatively strong. Nearly 15 million units were produced in the first eight months of the year, the fourth-highest rate in our 19-year data history.
Sheet market sources slam tariffs for prolonged demand slump
Tariffs are ultimately to blame for stagnant demand in the hot-rolled coil market, domestic market sources tell SMU.