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
Mixed-Use | Apr 26, 2022
Downtown Phoenix to get hundreds of residential and student housing units
In fast-growing Phoenix, Arizona, a transit-oriented development called Central Station will sit adjacent to Arizona State University’s Downtown Phoenix campus.
Hotel Facilities | Apr 25, 2022
U.S. hotel construction pipeline up 2%, with 5,090 projects in the works
The total U.S. hotel construction pipeline stands at 5,090 projects and 606,302 rooms at the end of the first quarter of 2022, up 2% by projects, but down 3% by rooms, according to the Q1 2022 Construction Pipeline Trend Report for the United States from Lodging Econometrics (LE).
Codes and Standards | Apr 25, 2022
Supply chain constraints, shifting consumer demands adding cost pressures to office fit-outs
Cushman & Wakefield’s 2022 Americas Office Fit-Out Cost Guide found supply chain constraints and shifting consumer demands will continue to add pressure to costs, both in materials and labor.
Sports and Recreational Facilities | Apr 25, 2022
Iowa's Field of Dreams to get boutique hotel, new baseball fields
A decade ago, Go the Distance Baseball formed to preserve the Iowa farm site where the 1989 movie Field of Dreams was filmed.
Building Team | Apr 22, 2022
EarthCam Adds Senior Leadership Roles to Facilitate Rapid Growth
EarthCam today announced several new leadership positions as it scales up to accommodate increasing demand for its webcam technology and services.
Architects | Apr 22, 2022
Top 10 green building projects for 2022
The American Institute of Architects' Committee on the Environment (COTE) has announced its COTE Top Ten Awards for significant achievements in advancing climate action.
Mixed-Use | Apr 22, 2022
San Francisco replaces a waterfront parking lot with a new neighborhood
A parking lot on San Francisco’s waterfront is transforming into Mission Rock—a new neighborhood featuring rental units, offices, parks, open spaces, retail, and parking.
Legislation | Apr 21, 2022
NIMBYism in the Sunbelt stymies new apartment development
Population growth in Sunbelt metro areas is driving demand for new apartment development, but resistance is growing against these projects.
Building Team | Apr 20, 2022
White House works with state, local governments to bolster building performance standards
The former head of the U.S. Green Building Council says the Biden Administration’s formation of the National Building Performance Standards Coalition is a “tremendous” step in the right direction to raise building performance standards in the U.S.
Market Data | Apr 20, 2022
Pace of demand for design services rapidly accelerates
Demand for design services in March expanded sharply from February according to a new report today from The American Institute of Architects (AIA).
