The Dodge Momentum Index increased 4 percent from a revised 123.8 in November to 128.7 in December, according to Dodge Data & Analytics. The Index, a monthly measure of the first (or initial) report for nonresidential building projects in planning, is currently at its highest reading since February 2009 and is 17 percent higher than one year ago.
According to Dodge, the increases seen in the Index in 2014 are a signal that the construction recovery will continue into 2015.
The index for the commercial sector rose 4.1 percent, while the institutional sector increased 3.8 percent. There were nine commercial building projects exceeding $100 million that entered into planning during the month, including the $150-million phase one of the Google campus in Boulder, Colo., a $150-million retail complex in New Brunswick, N.J., and the $135-million Monarch Hotel in Black Hawk, Colo.