JEFFERSON VALLEY, N.Y., Dec. 17, 2020 /PRNewswire/ --
Summary: The Blue Book Network® has introduced a new construction index to track the direction and velocity of bidding activity in the commercial construction industry's largest and most active network. The Blue Book Network Velocity Index provides manufacturers, distributors, general contractors and subcontractors with a critical leading indicator of construction spending to inform key business decisions.
The Blue Book Network® today announced 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 Manufacturers, Distributors, General Contractors, and Sub Contractors a vital leading indicator of construction spending to inform their critical business decisions. The Blue Book Network® Velocity Index is the latest development from Blue Book's Network Intelligence and Analytics team, focused on creating analysis and data visualization applications to support critical business decisions.
The Blue Book Network Velocity Index for November:
The Blue Book Network Velocity Index continued to reflect the October decline, dropping to 100.8 in November, 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
Click here to learn how The Blue Book Network Velocity Index is created and how to include it in your company's strategic decision making.
For additional information, please contact: Brian Tonry, Vice President of Network Intelligence and Analytics at (800) 431-2584 ext. 3632 / [email protected]
About The Blue Book Building & Construction Network:
The Blue Book Building & Construction Network / www.thebluebook.com is an employee-owned company and the largest, most active network in the U.S. commercial construction industry. Today, The Blue Book Network defines and delivers the industry through three unparalleled databases of: companies, projects and people. By integrating and understanding the relationships shared by these groups, The Blue Book Network provides an indispensable resource to connect with the industry every day.
SOURCE The Blue Book Building and Construction Network