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Wells Fargo: 2013 Construction Industry Outlook ‘Modestly Positive’

December 20, 2012, 07:40 AM
Filed Under: Construction

According to the Wells Fargo Equipment Finance Construction Quarterly report for Q4 2012, the Construction Group at Wells Fargo Equipment Finance is modestly positive about the prospects for the construction industry for 2013.  The report says contractors and equipment distributors shouldn’t expect a significant boost or rapid drop in the overall market opportunity. As long as the U.S. economy maintains its mostly slow-but-steady recovery resilient companies should be able to unearth new opportunities for growth.

John Crum, National Sales Manager Wells Fargo Equipment Finance says in the report, “Our overall outlook for 2013 remains cautiously optimistic. Wells Fargo’s Economists are forecasting a 1.4% GDP growth rate in 2013, with the caveat that much of the weakness is expected to occur at the beginning of the year, when uncertainty about Europe and the Fiscal Cliff should be greatest. Moreover, private sector economic activity should be stronger than overall growth, with final sales to domestic purchasers forecast to grow less than 2.0% in 2013. Energy, residential and commercial construction will likely be those sectors with better-than-average opportunities.”

Read the full Wells Fargo Equipment Finance Construction Quarterly report for Q4 2012.

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