Dodge Momentum Index rises 2.9 percent in December
The index is now at an eight-year high, but it still falls short of its 2007 peak.
The December Dodge Momentum Index grew by 2.9%percent to 136.7 from a downward-revised November measure of 132.8, according to Dodge Data & Analytics and reported by Kim Slowey in a recent post on Xonstruction Dive.
A 5.7 percent rise in the commercial sector last month offset a 1.7 percent slip in institutional planning.
The Momentum Index is currently at an eight-year high after its steady 2016 climb, although it is still at least 25 percent lower than when it hit its apex in 2007.
Slowey reports the Momentum Index is a monthly measure of initial reports of nonresidential construction projects in the planning stages, which typically lead nonresidential construction spending by one year.
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