Confidence among equipment managers is slightly above mid-range, according to Construction Equipment magazine’s new Equipment Manager Confidence Index. The Index scored 126 on a scale of 0-200, with 200 indicating full confidence that the next week will be “better.”
The Confidence Index is updated weekly during the Covid-19 situation. Because the economic and medical circumstances have been and are expected to continue being volatile, the Index will provide weekly insights on equipment management trends.
In addition to the Confidence Index, equipment managers also report on specific trends within the asset management function. These data are only available to members, but will be provided free as a service to the community through the end of June.
Trends monitored by the group include outlooks on ownership, rental, and maintenance. In addition to measuring equipment managers’ confidence, these premium features will measure how managers are looking at asset management in and through the Covid-19 situation.
Equipment managers also scored their outlook for the overall health of the economy, which is also a premium feature data point. This week, the Economic Index is -33 on a scale runs from 100 to -100. According to participating equipment managers, the economy is weakening.
Equipment managers can also participate in a data-driven peer benchmarking platform sponsored by Construction Equipment. “Fleet Age and Usage Benchmarking” platform allows managers to upload machine data by machine type, manufacturer, and model. The platform allows group members to compare and gain insight from the aggregated data. Confidentiality is assured in the aggregation of the data, and insights are published quarterly.
The group is open to construction equipment-using firms in the heavy civil, nonresidential building construction, aggregate, and waste industries. Members must have access to machine data and the ability to update it according to the frequency requirements. The group is limited to businesses in the United States and Canada.
Membership is now open, and equipment managers can find group details and registration information here.