The Dodge Momentum Index rose 2.4% in January. The monthly increase was the result of a 3.3% increase in institutional projects and a 1.6% increase in commercial work. On a year-over-year basis, the overall index is 1.7% higher than 2015’s level, despite a 6.8% drop in the commercial portion of the index. The Dodge Momentum Index measures non-residential building projects entering the planning stage, which has been shown to lead construction spending by a full year. Commercial planning has been following a “sawtooth pattern,” says Dodge, but, overall, the trend has been positive as most commercial real estate fundamentals are improving, it says.