Dive summary:
- A Construction Optimism Quotient that Wells Fargo's equipment-lending subsidiary calculates based on conversations with contractors and equipment dealers signals a good year in 2013.
- The bank said the index is at 106 on a scale that makes anything over 100 optimistic and anything below that pessimistic.
- The index got back above 100 in 2012, and the people to whom Wells Fargo talks expect nonresidential construction to go up more this year.
From the article:
"For most parts of the country, we expect to see modest improvement in overall construction activity and contractors anticipate acquiring additional heavy equipment to support this activity. ..."
