A recent survey by Wells Fargo & Company sent to construction equipment distributors and contractors found that optimism is higher for 2012 than it was in 2011.
The 2012 Construction Industry Forecast uses the Construction Optimism Quotient to gauge how confident those in the industry are about future prospects in non-residential construction. The figure for 2012 was 114, up from 96 last year. According to the scale in the survey, any measure over 100 indicates projected year-on-year growth for construction.
"This high rating is an encouraging sign that, for the majority of contractors and equipment distributors, business has stabilized and the worst may be behind us," said John Crum, senior vice president and national sales manager of the Construction Group at Wells Fargo Equipment Finance, Inc. "We expect to see modest improvement in non-residential construction activity this year and Wells Fargo will continue to support the industry with its construction equipment financing and leasing needs."
Those who need construction equipment for upcoming jobs but don't want to break the bank to acquire it may want to look into buying used. The online auction site IronPlanet offers a wide variety of models to choose from, and buying over the web is often more affordable. In addition, the equipment is backed by IronClad Assurance, allowing bidders to look at a full inspection report before they commit to buy.
