Confidence among equipment managers dropped in May compared to the previous month, according to the Equipment Manager Confidence Index. The June 1 index was 99 on a scale of 0 to 200, with 200 indicating full confidence that the next month will be “better,” compared to 126 in mid-April.
The Index gauges the sentiment among construction equipment users who provide opinions on confidence as well as other asset-management topics in exchange for free access to the group's insights in a secure intelligence software platform. Participation in the Index is free for equipment managers, who can sign up here.
Additional insights available to members:
- Overall economy health
- Current fleet health: now v. last year
- Future fleet health: now v. next year
- Equipment acquisition: better or worse to buy new
- Equipment disposition: better or worse time to sell used
- External rental: better or worse time to rent
- Peer to peer rental: better or worse time to generate revenue
- Planned maintenance: spend more or less than last year
- Rebuilds: more or less likely than last year
In addition to the Confidence Index, members of the platform also provide opinions on trends within asset management, including acquisition expectations, rental plans, and maintenance. In May, for example, the index showed that managers expect maintenance spending to increase in coming months. With the free access, managers can see how the trend is unfolding and compare themselves to others in the platform.
The data-driven Index is powered by Baromitr, a scalable, peer-benchmarking platform. The Equipment Manager Confidence Index is a custom algorithm that combines multiple inputs to calculate a score from 0 to 200. The higher it is, the more confident equipment managers are.