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The Blue Book Network has launched The Blue Book Network Velocity Index, a new leading economic indicator for the construction industry. The Velocity Index measures the direction and magnitude of month-to-month changes in bidding activity in The Blue Book Network, accounting for seasonality.
The Index provides distributors, manufacturers and contractors with a vital leading indicator of construction spending to inform their critical business decisions.
The Velocity Index for November continued to reflect the October decline, dropping to 100.8, a 4.8% decrease (December 2018 = 100). The rate of decrease for the Index slowed considerably compared to the revised 13.9% drop seen in October, likely still reflecting concern over increases in COVID-19 rates. The Index remains strong, 19% higher than April’s revised low of 84.7.