Skip to main content

Survey: Construction Executives Optimistic on Next 12 Months

Phil Hall
Feb 27, 2019
Construction industry executives expressed optimism about the year ahead in the 43rd annual Wells Fargo Construction Industry Forecast

Construction industry executives expressed optimism about the year ahead in the 43rd annual Wells Fargo Construction Industry Forecast.
 
The survey tallied the opinions of 441 industry contractors, manufacturers, and equipment distributors in 48 states to determine the proprietary National Optimism Quotient (OQ). The 2019 OQ registered at 122, down from last year’s peak reading of 133. However, this year’s forecast is the eighth consecutive year where industry leaders are confident in the near future.
 
“Even if this year’s activity remains the same as last year, many see it as a positive for the industry due to significant growth over many years,” said John Crum, Construction Group national sales manager for Wells Fargo Equipment Finance. “If 2019 turns out the way survey respondents indicate, we could be in for another good year.”
 
Still, not everything in the forecast was copacetic. Among the respondents, the ability to hire qualified workers was their primary concern. Forty-seven percent of contractor respondents cited hiring qualified workers as their top cost focus and 36 percent of all respondents identified it as the leading risk to the industry. Executives ranked the search for qualified workers above the impact created by healthcare costs, employee wages and benefits, tariffs, interest rates, and equipment.

 
Published
Feb 27, 2019
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Sep 11, 2023
If You Build It, They Will Come

Ratings will go a long way toward growing the market for home equity-backed securities

Sep 07, 2023
Investors May Be Losing Interest In The Single-Family Rental Market

Rise in interest rates, drop in values have them pulling back in certain regions

Sep 07, 2023