The Dodge Momentum Index, which tracks the initial planning of nonresidential building projects, gained 5.8 percent in September to register 133.5.
Planning for institutional building led the increase with a 12.0 percent jump from August. Dodge Data & Analytics reports institutional planning has been on an erratic upward trend as state and local budgets recover from recessionary weakness and support building projects.
Commercial construction increased 1.8 percent in September is at a “more mature stage of its recovery” said Dodge.
Eight projects, exceeding $100 million, began the planning stage in September and were evenly split between commercial and institutional.
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