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.
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
Read more from David SchollaertLatest in Steel Markets
Still no cure for the summertime HR market blues
Seasonal steel slowdowns combined with ongoing anxieties about tariffs and mill strategies have dampened sentiment for several hot-rolled steel market participants this week. Buyers are jittery, market stands still The operator of a Midwest-based service center said that steel buyers are scared. “Everyone is afraid to buy steel right now. Unless you’re on a […]
SSAB Americas reports higher Q2 production and shipments
Despite improved operating results, SSAB Americas' second-quarter and H1’25 profits fell short of those of last year.
Global steel production slips in June
The total volume of raw steel produced around the globe fell by 5% from May to June, according to recent data published by the World Steel Association (worldsteel).
Market sentiment shows improvement: PMA Business Conditions Report
Metalforming manufacturers say they’re more confident that near-term economic conditions are improving
Galvanized steel prices and demand remain stagnant in July: HARDI
Galvanized steel prices ping-ponged in the $50/hundredweight range during the month of July, settling in at roughly the same position as in June.