Wells Fargo Predicts Strong Year Ahead
Survey's Industry Optimism Quotient reaches an all-time high.
In the 2014 Construction Industry Forecast by Wells Fargo Equipment Finance, construction industry executives across the U.S. expressed strong optimism that local construction activity will increase in 2014 compared to 2013.
Based on the responses of 522 executives, the survey’s Optimism Quotient (OQ), the survey’s primary benchmark for measuring construction industry executive sentiment — is at a historic high of 124, up 18 points from 106 in 2013 and up from the survey low of 42 in 2009.
Key findings of the survey include:
- Equipment rental will remain strong. Equipment users and sellers both say that this growing trend will not slow down in 2014.
- Equipment acquisition will also rise, slightly. More contractors than a year ago say they will increase new and used equipment acquisitions.
- There is still some concern about the economy. “Economic uncertainty” was listed by contractors as the greatest risk to the U.S. construction industry in 2014.
Click here to download the report.
CONTRACTOR SUPPLY MAGAZINE
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