Wells Fargo Releases Q1 Construction Quarterly Survey
Report sees executive optimism improving and a sense that construction spending has bottomed out.
In his quarterly report, John Crum, National Sales Manager, Wells Fargo Equipment Finance, Inc., Construction Division, says, "After many discussions with contractors, equipment distributors and manufacturers at CON-EXPO in Las Vegas recently, the overall feeling is that the U.S. construction industry is finally starting to make its way back. Although there are headwinds, the mood about construction activity is definitely more upbeat than last year at this time."
Highlights of the survey include discussions of:
Executive optimism is up. A year ago, the results of Wells Fargo's annual Construction Industry Survey revealed some newfound optimism. This year it is strengthening.
Construction spending may have bottomed out. The residential housing numbers have been disappointing of late, but perhaps some of that can be blamed on an unusually cold, snowy winter. Wells Fargo analysts expect federal highway spending to remain tepid until a multi-year highway funding bill becomes law — perhaps late in 2011.
The report also looks at improving pictures for various construction related segments including heavy equipment manufacturing and equipment rentals.
Click here to download the complete report.
