Steel Markets

Dodge Momentum Index Down in January

Written by David Schollaert

February 8, 2022

The Dodge Momentum Index fell in January by 7.0% and to a four-month low, according to data and analytics from the Dodge Construction Network. The index registered 152.9 last month versus a revised December reading of 163.7.

constructionIn January, commercial planning fell 9.0% while institutional planning moved 1.0% lower. The index had a stellar 2021, rising 23% from 2020 and reaching levels not seen in nearly 14 years, said Dodge. The recent string of declines, however, may be blamed on rising costs, logistical limitations and shortages of skilled labor.

Despite the contractions, the dollar value of projects in planning remains exceptionally strong, especially for education, warehouse and healthcare projects.

The report noted that a total of 13 projects with a value of $100 million or more entered planning in January. The leading commercial projects were a $400 million hospital in Tahlequah, Okla., and the $320 million Ascension Seton Medical Tower in Austin, Texas. The leading commercial projects were the $300 million first phase of the Willets Point redevelopment in Willets Point, N.Y., and the $300 million XNRGY headquarters in Chandler, Ariz.

Many of the challenges facing construction in 2022 will be like those in 2021, dampening expectations for robust growth. The volume of projects in planning, however, provides hope for further, more evenly dispersed recovery this year, Dodge said.

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.

dodge 2 8 22

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

Read more from David Schollaert

Latest in Steel Markets