Wells Fargo issues Q1 2010 Construction Industry Survey
Almost half of executives believe construction activity levels will remain at the overall depressed levels experienced in 2009.
Each calendar quarter Wells Fargo Construction surveys construction industry executives by email to gather insight into current business conditions. This Q1-2010 survey is also made possible thanks to the cooperation and support of Associated Equipment Distributors(AED). These results represent the beginning of the 34th year in which Wells Fargo Construction and its predecessors have surveyed the construction industry.
The Wells Fargo Construction Optimism Quotient
The Optimism Quotient (OQ) is this survey’s primary metric for assessing respondents’ expectations of local construction activity for the coming calendar year compared to the previous year.
The OQ going into calendar year 2010 is a decidedly cool 66. Although this is an improvement over the 2009 score of 38 – which was an all-time low – construction executives are saying they are not very optimistic that local construction activity will show much of an improvement over 2009.
Although almost 1 in 4 construction executives say they anticipate an increase in local construction activity, perhaps the more telling number is that almost half believe activity levels will remain at the overall depressed levels experienced in 2009.
To request a copy of the survey results, visit Wells Fargo online at www.wellsfargo.com/construction
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