![The Dodge Momentum Index rose 5.3 points in December to 153.9 - a third straight month of gains.](https://img.forconstructionpros.com/files/base/acbm/fcp/image/2018/01/Screen_Shot_2018_01_08_at_11.58.12_AM.5a53b9d2059bc.png?auto=format%2Ccompress&fit=crop&h=288&q=70&rect=36%2C0%2C881%2C497&w=512)
The Dodge Momentum Index grew 3.6% in December to 153.9 (2000=100) from the revised November reading of 148.6. 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. December’s increase was due to an 8.6% jump in the institutional component of the Momentum Index, while the commercial component eked out a 0.7% gain.
December’s Dodge Momentum Index indicates rising demand for nonresidential projects, which should support structures investment in coming quarters.Dodge Data & Analytics
In December, 12 projects each with a value of $100 million or more entered planning. For the institutional sector, the leading projects were a $200 million renovation of the Smithsonian Institute Visitor Center (The Castle) in Washington D.C. and a $175 million Veterans Affairs Living Center in Long Beach, CA. The leading commercial projects were a $100 million hotel on Harvard University’s campus in Allston, MA, and a $100 million office building in Little Rock, AR.