Steel Markets
Dodge Momentum Index: 2021 a Strong Year for Construction
Written by Brett Linton
January 13, 2022
The Dodge Momentum Index declined 3% in December to a reading of 166.4, according to Dodge Data & Analytics. Though the year ended on a down note, 2021 was a good one for construction with the index rising by 23%, its strongest annual gain in 15 years.
Both components of the construction index also declined from November to December, with commercial planning down 4% to 196.7 and institutional planning down 1% to 128.9. But on an annual basis, the commercial and institutional components reached multi-year highs of 13 and 14 years, respectively.
“The signals provided by the Dodge Momentum Index continue to suggest that construction activity will improve in 2022 — and, more importantly, that this growth will be more balanced than what was seen in 2021. However, the ever-present risks of the pandemic and tight labor force will work to counter these trends, leading to moderate growth over the new year,” the research firm said.
The Dodge Momentum Index is a key advance indicator of nonresidential construction demand, leading construction spending by as much as a year.
An interactive history of the Dodge Momentum Index is available here on our website; an example is shown below. If you need assistance logging into or navigating the website, please contact us at info@SteelMarketUpdate.com.
Brett Linton
Read more from Brett LintonLatest in Steel Markets
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.
Sheet market participants say sales still in a slump
Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.
CRU: Lower sheet prices have pulled back demand for imports
Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.
President Trump intends to set additional steel tariffs
While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.
USS, government officials give update on Clairton Coke Works incident
U.S. Steel, Allegheny County executive Sara Innamorato, and Pennsylvania Gov. Josh Shapiro clarified details from early reports about the Clairton Coke Works facility explosion just one day earlier.