The 2022 Optimism Quotient is 112

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A year of cautious optimism

The Optimism Quotient (OQ) — this survey’s primary benchmark for measuring contractor and equipment distributor sentiment on local non-residential construction activity — is 112 for 2022. Rebounding from the sentiments of the prior two years, most executives expect increased growth, though some do maintain their caution for the year ahead. Download the full report to learn more about what to expect this year.

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Where we've been. Where we are.

While this year’s score is considered strong optimism for local non-residential construction, the strong expectations this year should be taken within the context of exceeding the tempered optimism of the last two years. With similar OQ scores, distributors (114) and contractors (113) predict positive growth in 2022 in spite of the continuing effects of the global pandemic, uncertainty related to supply chain disruptions, and concerns over inflation.

2022’s OQ score of 112 is well up from cautiously optimistic scores of 2021 which was 78, and 2020 which was 99. It is slightly lower than the average of the previous 8 years’ 120.

Source: 2022 Wells Fargo Construction Industry Forecast Survey, Base: Total respondents — 313 in 2022, 226 in 2021, 305 in 2020, 441 in 2019, 312 in 2018, 407 in 2017, 474 in 2016, 413 in 2015, 552 in 2014, 370 in 2013, 405 in 2012.

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To learn more, call us today: 1-866-726-4714, visit Wells Fargo Equipment Finance, or Request a contact from our equipment finance professionals for individual loan or lease amounts starting at $100,000.