Posted March 1, 2019

Wells Fargo predicts a solid year ahead for construction industry

Report and it's title, A Year of Continued Optimism, paints a positive picture. 

For its 43rd annual Wells Fargo Construction Industry Forecast, Wells Fargo reports that industry executives from 48 states responded to our in-depth survey seeking their opinions about the construction industry in 2019.

The primary goal of the survey is to determine the 2019 U.S. National Optimism Quotient (OQ), which is a key indicator of whether or not local, nonresidential construction is expected to increase or decrease in the year ahead.

In addition to determining the OQ, the survey posed questions about equipment sales and purchase expectations, trends in the rental market, and explored major concerns and challenges that industry participants identify as relevant to their businesses.

With the OQ at 122 and in strongly optimistic territory, 2019 marks the eighth consecutive year that participants in the construction industry have felt that industry expansion is more likely than contraction.

Click here to download the full report.