Steel Markets

Dodge Momentum Index Advances 1.9% in February

Written by David Schollaert

March 7, 2023

The Dodge Momentum Index (DMI) rose 1.9%% in February to 203 from the revised January reading of 199.3, according to data and analytics from the Dodge Construction Network (DCN).

Additionally, the commercial component of the DMI also advanced 1.4% and the institutional component increased 2.9%, respectively, last month.

The Dodge Momentum Index returned to growth in February after falling 9% in January, said Sarah Martin, associate director of forecasting for Dodge Construction Network. “The continued elevation in the DMI should provide hope that construction activity will grow in 2024.”

Looking forward, she said that developers push projects into planning until well after economic conditions weaken, adding that “the anticipated mild economic growth in 2023 could cause the DMI to moderate over the year,” yet Martin doesn’t expect the index to “fall below historical norms.”

DCN said a total of 22 projects with a value of $100 million or more entered planning in February.

DodgeMomentum Mar23 Fig1

An interactive history of the Dodge Momentum Index is available on our website. If you need assistance logging into or navigating the website, please contact us at info@steelmarketupdate.com.

Dodge is the leading index for commercial real estate, using the data of planned nonresidential building projects to track spending in the sector for the next 12 months.

By David Schollaert, david@steelmarketupdate.com

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.

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