Contractors, Equipment Distributors Upbeat Over Construction Outlook

Posted To: MND NewsWire

Wells Fargo’s annual Construction Industry Forecast, based on a survey of construction industry contractors and equipment distributors, reports increased optimism for nonresidential construction activity. Respondents relayed expectations of increased company profits and industry expansion through higher infrastructure spending. Wells Fargo measures sentiments expressed in the survey, conducted by its Equipment Finance subsidiary, through an Optimism Quotient (OQ) which reached its third highest reading in 20 years. The 2017 OQ was at 123 compared to 108 in 2016. A score greater than 100 suggests strong optimism for increased local construction activity compared to the prior calendar year. The OQ plummeted to a recent low of 42 in 2009 and hit 130 in 2015. “An OQ reading at this level leads…(read more)

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Source: Mortgage News Daily

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