The Blue Book Network Velocity Index ticked up 0.5% to 100.9 in February from a revised 100.5 in January (December 2018 = 100). This the most stable the Index has been since before the pandemic began.
The Blue Book Network Velocity Index is a measure of month-to-month changes in bidding activity in The Blue Book Network, accounting for seasonality, providing a leading indicator of construction spending to inform critical decision making.
Analysis by building sector shows that the manufacturing, institutional, and multifamily categories fell back slightly, but were offset by gains in commercial and lodging. Lodging jumped nearly 50% to 69.4 following a 44% increase from December to January.
Some highlights:
• The institutional building sector dipped 2.5% to 117.2, but showed strengthening in the Midwestern states
• The manufacturing sector was mostly unchanged, with Pennsylvania, Massachusetts, Virginia, Washington, and Louisiana gaining
• The commercial buildings sector climbed 3.6% to 75.1
• Lodging continued its two-month recovery with strong gains mostly in the Sun Belt
• Multifamily, while down slightly, remained strong at 118.8, bolstered by Midwest and Southeast states
• States split the difference in February, with 22 on the rise
• Midwest states held the line with most showing moderate increases
• Larger states losing ground included California, Florida, New York, and Texas, with modest declines.
More on the The Blue Book Network Velocity Index.
Related Stories
Higher Education | May 5, 2022
To keep pace with demand, higher ed will have to add 45,000 beds by year-end
The higher education residential sector will have to add 45,000 beds by the end of 2022 to keep pace with demand, according to a report by Humphreys & Partners Architects.
Multifamily Housing | May 5, 2022
An Austin firm touts design and communal spaces in its student housing projects
Rhode Partners has multiple towers in various development stages.
Legislation | May 4, 2022
Washington is first state to mandate all-electric heat for new large buildings
Washington recently became the first state to require all electric heat for new buildings.
Building Team | May 4, 2022
Mancini Acquires Gertler & Wente Architects, Expanding the Firm's Opportunities in New Market Sectors
National design firm Mancini Duffy - with a 100+-year-old history and tech-forward approach based in New York City - announces the acquisition of Gertler & Wente Architects to further expand its footprint in the healthcare, multi-family residential, restoration, institutional, and religious sectors.
Contractors | May 4, 2022
CFC Construction names Pat Smith president
CFC Construction is proud to announce that Pat Smith has been promoted to President of the Colorado-based general contractor.
Sponsored | Healthcare Facilities | May 3, 2022
Planning for hospital campus access that works for people
This course defines the elements of hospital campus access that are essential to promoting the efficient, stress-free movement of patients, staff, family, and visitors. Campus access elements include signage and wayfinding, parking facilities, transportation demand management, shuttle buses, curb access, valet parking management, roadways, and pedestrian walkways.
Sponsored | BD+C University Course | May 3, 2022
For glass openings, how big is too big?
Advances in glazing materials and glass building systems offer a seemingly unlimited horizon for not only glass performance, but also for the size and extent of these light, transparent forms. Both for enclosures and for indoor environments, novel products and assemblies allow for more glass and less opaque structure—often in places that previously limited their use.
Codes and Standards | May 3, 2022
American Institute of Steel Construction updates environmental product declarations
The American Institute of Steel Construction has released updated environmental product declarations (EPDs) “to help designers and building owners design more environmentally friendly buildings and bridges,” according to an AISC news release.
Education Facilities | May 2, 2022
Texas School for the Deaf campus gateway enhances sense of belonging for deaf community
The recently completed Texas School for the Deaf Administration and Welcome Center and Early Learning Center, at the state’s oldest continuously operating public school, was designed to foster a sense of belonging for the deaf community.
Codes and Standards | May 2, 2022
Developer Hines, engineer MKA develop free embodied carbon reduction guide
Real estate management and investment firm Hines has released the Hines Embodied Carbon Reduction Guide. The free guide, produced with Magnusson Klemencic Associates (MKA), is the result of a two-year effort, relying on MKA’s industry-leading knowledge of carbon accounting and involvement in programs such as the Embodied Carbon in Construction Calculator (EC3) Tool.