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
| Dec 7, 2010
Product of the Week: Petersen Aluminum’s column covers used in IBM’S new offices
IBM’s new offices at Dulles Station West in Herndon, Va., utilized Petersen’s PAC-1000 F Flush Series column covers. The columns are within the office’s Mobility Area, which is designed for a mobile workforce looking for quick in-and-out work space. The majority of workspaces in the office are unassigned and intended to be used on a temporary basis.
| Dec 6, 2010
Construction unemployment rate jumps to 18.8% between October and November
The construction unemployment rate jumped to 18.8% in November as the sector lost another 5,000 jobs since October, according to an analysis of new federal employment data released today by the Associated General Contractors of America. The data indicates that the construction sector has suffered more than any other industry during the economic downturn, association officials said.
| Dec 6, 2010
Honeywell survey
Rising energy costs and a tough economic climate have forced the nation’s school districts to defer facility maintenance and delay construction projects, but they have also encouraged districts to pursue green initiatives, according to Honeywell’s second annual “School Energy and Environment Survey.”
| Dec 2, 2010
GKV Architects wins best guest room design award for Park Hyatt Istanbul
Gerner Kronick + Valcarcel, Architects, PC won the prestigious Gold Key Award for Excellence in Hospitality Design for best guest room, Park Hyatt Macka Palas, Istanbul, Turkey. Park Hyatt Maçka Palace marries historic and exotic elements with modern and luxurious, creating a unique space perpetuating Istanbul’s current culture. In addition to the façade restoration, GKV Architects designed 85 guestrooms, five penthouse suites, an ultra-hip rooftop bar, and a first-of-its-kind for Istanbul – a steakhouse, for the luxury hotel.
| Dec 2, 2010
U.S Energy Secretary Chu announces $21 Million to improve energy use in commercial buildings
U.S. Energy Secretary Steven Chu announced that 24 projects are receiving a total of $21 million in technical assistance to dramatically reduce the energy used in their commercial buildings. This initiative will connect commercial building owners and operators with multidisciplinary teams including researchers at DOE's National Laboratories and private sector building experts. The teams will design, construct, measure, and test low-energy building plans, and will help accelerate the deployment of cost-effective energy-saving measures in commercial buildings across the United States.
| Nov 29, 2010
Data Centers: Keeping Energy, Security in Check
Power consumption for data centers doubled from 2000 and 2006, and it is anticipated to double again by 2011, making these mission-critical facilities the nation’s largest commercial user of electric power. Major technology companies, notably Hewlett-Packard, Cisco Systems, and International Business Machines, are investing heavily in new data centers. HP, which acquired technology services provider EDS in 2008, announced in June that it would be closing many of its older data centers and would be building new, more highly optimized centers around the world.
| Nov 29, 2010
New Design Concepts for Elementary and Secondary Schools
Hard hit by the economy, new construction in the K-12 sector has slowed considerably over the past year. Yet innovation has continued, along with renovations and expansions. Today, Building Teams are showing a keener focus on sustainable design, as well as ways to improve indoor environmental quality (IEQ), daylighting, and low-maintenance finishes such as flooring.
| Nov 29, 2010
Renovating for Sustainability
Motivated by the prospect of increased property values, reduced utility bills, and an interest in jumping on the sustainability bandwagon, a noted upturn in green building upgrades is helping designers and real estate developers stay busy while waiting for the economy to recover. In fact, many of the larger property management outfits have set up teams to undertake projects seeking LEED for Existing Buildings: Operations & Maintenance (LEED-EBOM, also referred to as LEED-EB), a certification by the U.S. Green Building Council.
