Steel Markets
November 15, 2014
Dodge Momentum Index: Non-Residential Construction Increased in October
Written by Sandy Williams
The Dodge Momentum Index, an indicator of nonresidential construction intentions, rose 7.6 percent in October. The following is the press release from Dodge Data & Analytics.
NEW YORK – NEW YORK – The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6 according to Dodge Data & Analytics. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The Momentum Index had declined in each of the previous three months, and the increase in October returns the Index to the rising trend seen during the first half of this year. The Momentum Index now stands 18% above last year, which indicates that overall healthy economic growth is working its way through to the construction sector.
