The Dodge Momentum Index continued to push higher in August, now up for the fifth consecutive month. The August DMI came in at 220.4, up from a revised 214.2 reading in July and up sharply from the 178.0 reading in August 2023. This is the highest reading since December, coming in just below that all-time high level.
This week, a handful of domestic suppliers, along with the USW, filed petitions for new anti-dumping and counter-vailing duties on corrosion-resistant sheet imports. SDI, Nucor, U.S. Steel, Wheeling-Nippon, and the USW, state that unfairly traded corrosion-resistant sheet imports have materially injured the U.S. domestic industry.
Confidence among U.S. consumers increased again in August, now up for the second consecutive month. The Consumer Confidence Index came in at 103.3, up from 101.9 in July.
After sliding the previous four months, sales of existing homes picked up in July. July existing home sales came in at a 3.950 million unit rate, up 1.3% from June but were still 2.5% below year-ago levels.
