The Dodge Momentum Index increased 2.9 percent in December to a reading of 136.7. The index is at an eight year high although more than 25 percent below its peak in 2007.
Commercial construction planning drove the increase in December, gaining 5.7 percent and offsetting a 1.7 percent decline in institutional planning.
Commercial planning gained 38 percent in 2016 while institutional planning dropped 6 percent after a strong year in 2015. Dodge Data & Analytics suggest this means commercial construction activity will continue to grow in 2017 “despite being at a more mature phase in its cycle, while planning in the institutional sector has yet to see the benefit of the numerous education-related bond measures passed in recent years.”
Eight projects entered the planning stage in December that are valued at more than $100 million. Commercial projects include a $400 million mixed-use building in Atlanta, GA and $351 million office tower in San Francisco. For institutional projects, Cleveland, Ohio will get a $140 million renovation to the Quickens Loan Arena and a $130 million high school is planned in Sherman, Texas.
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