Retail sales of construction equipment are expected to increase by at least 3 percent in 2013, according to a survey conducted by GE Capital, Equipment Finance.
Seventy-five percent of respondents indicated they expect such an increase. Of this group, 24 percent expect sales to increase 6 to 8 percent.
More than three-quarters of respondents believe the first half of 2013 is the best time to increase inventory of construction equipment.
More than half of the respondents believe that improvement in the nation’s economy will have a positive impact on the construction industry, but two-thirds of respondents cite the lack of demand for new commercial and residential construction as the biggest challengers for distributors.
The survey was conducted Jan. 15 to 17, 2013 and included 49 respondents from the construction industry.