The Dodge Momentum Index rose 4.1% in December, mostly reversing last November’s 3.6% decline, according to Dodge Data & Analytics. The index is a monthly measure of the first reports for non-residential building projects entering the planning stage, which has been shown to lead construction spending for non-residential building projects by a full year. The December rise in the index was fairly evenly distributed between a 4.7% increase for institutional buildings and a 3.6% increase for commercial projects. On a year-over-year basis, the index finished 2015 up 2.4% from December 2014’s level.
In December, there were a total of 10 projects entering the planning stage with values that exceeded $100 million. For the commercial sector, the leading projects were a $176-million warehouse in Pennsylvania and a $160-million office building in Washington, D.C. For the institutional building sector, the leading projects were a $500-million renovation of Lincoln Center in New York City and a $300-million hospital in Utah.