The Dodge Momentum Index rebounded in December with a 4.1-percent increase from its November reading of 120.3, reversing a 3.6-percent decline in November.

The 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 by a full year.

The December rise was mostly spread between a 4.7-percent increase for institutional projects and a 3.6-percent increase for commercial projects. On a year-over-year basis, the index finished 2015 up 2.4 percent from its reading at the end of 2014. The year-over-year change was dampened by a 6.7-percent decline for commercial projects, as this sector settled back to a more sustainable pace after surging 26.4-percent over the course of 2014. Renewed growth in planning activity for the commercial sector is expected to take place in 2016, supported by strong industry fundamentals such as vacancy rates and employment, according to Dodge. Institutional projects at the planning stage jumped 15.8 percent in December compared to the same month a year ago, helped by the passage of recent construction bond measures and the improved fiscal health of state and local governments.

Ten projects entered planning in December, each with a value that exceeded $100 million. For the commercial building sector, the leading projects were a $176 million warehouse in Shoemakersville, Pa., and a $160 million office project in Washington D.C. For the institutional building sector, the leading projects were a $500 million renovation project at Lincoln Center in New York City and a $300 million hospital project in St. George, Utah.