TL;DR: Hiring is up throughout the trade, regionally and by vertical. Cashflow and new initiatives are additionally up quarter over quarter in Q1 2022, however proceed to lag behind Q1 2021 ranges.
Optimism shone via the numbers in our final Building Metrics Index for the second half of 2021; however because the year-over-year numbers rolled in from the primary quarter of 2022 yr, it was clear that anticipation has cooled. Nevertheless, there’s nonetheless a whole lot of upward momentum to be discovered within the quarter-over-quarter development metrics from Q1 2022.
Hiring is up throughout the trade, regionally and by vertical. Whereas the positive factors are modest, any improve is value celebrating, given the challenges in hiring, not simply within the development trade, however nationwide.
Money circulation additionally elevated considerably, demonstrating that contractors are possible gearing as much as launch new initiatives, lots of that are coming on-line as a part of the not too long ago handed $1 trillion-plus Bipartisan Infrastructure Legislation.
New initiatives have been additionally up quarter-over-quarter, but nonetheless down year-over-year. And contract values remained down throughout the trade as properly. This tells the story of a development trade nonetheless feeling its method out of a number of years of pandemic pains, provide chain check, and ongoing expert labor and effectivity challenges.
Learn on as we break down a number of the numbers behind the tendencies, or skip forward and obtain the most recent Q1 2022 Building Metrics Index.