Wells Fargo Construction Industry Forecast predicts strong year ahead
Optimism Quotient reaches an all-time high of 130.
Construction contractors and equipment distributors have continued optimism about local, nonresidential construction activity in 2015 and expect a strong rental market and increasing equipment acquisitions, according to a survey from Wells Fargo Equipment Finance, a subsidiary of Wells Fargo & Company (NYSE: WFC).
Wells Fargo released the findings of its 2015 Construction Industry Forecast today. The survey’s primary benchmark for measuring construction industry contractor and equipment distributor sentiment is the Optimism Quotient (OQ).
The OQ reached an historic high of 130, up six points from 124 in 2014 and up considerably from the survey low of 42 in 2009. This reading is a strong indication that construction contractors and equipment distributors are optimistic that local nonresidential construction activity will improve in 2015 compared with 2014.
Also found in the free 20-page report are insights from hundreds of construction contractors and equipment distributors about these topics and more:
- Equipment acquisition intentions (new and used) for 2015
- Equipment rental trends
- Key opportunities in and risks to the industry
- Strategies for attracting and retaining skilled workers
- Cost categories that are of greatest concern
Click here to download a PDF of the full report.
Source: Wells Fargo Equipment Finance
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