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The confidence of equipment managers fell in the fourth quarter, according to the Equipment Manager Confidence Index, published by Construction Equipment. The Q4 2021 index is 105, down from the 117 released in the third quarter of this year. The index has returned to its second quarter level, when it was 106. It was as low as 99 in June 2020. The index measures the confidence of equipment managers on a scale of 0 to 200,200 indicating complete confidence that next month will be “better.”
“People polled also lowered their economic outlook,†says Rod Sutton, editorial director. “This index has fallen below 100, which means that more expect it to be worse than expect it to be better. The optimism that greeted the summer seems to have dissipated as the end of the year approaches.
“Fleet managers also remain pessimistic about the acquisition schedule,†says Sutton. “This index is also below 100, but it has been since the start of the pandemic. Supply chain issues and Congress’ failure to move on infrastructure is undoubtedly undermining confidence. “
The Asset Management Confidence Index is published and available to the entire industry at ConstructionEquipment.com/EMCI. Other data trends are only available to members of the Index group. For example, members continue to plan for more maintenance expenses in the coming months.
Additional information available to members:
- Overall health of the economy
- Current fleet health: now compared to last year
- Future fleet health: now versus next year
- Equipment acquisition: better or worse to buy new
- Equipment Layout: Best or Worst Time to Sell Used
- Outdoor rental: best or worst time to rent
- Peer to peer rental: best or worst time to generate income
- Planned maintenance: spend more or less than last year
- Reconstructions: more or less likely than last year
In addition to the Confidence Index, platform members also provide opinions on asset management trends, including acquisition expectations, lease plans and maintenance. In the third quarter, for example, the index showed that managers don’t see the next few weeks as a good time to buy new equipment. With free access, managers can see how the trend is unfolding and compare to others on the platform.
End users of the equipment can access this information free of charge. Others, such as manufacturers or dealers, can access the data as observers by registering here. The next Index calculation takes place at the end of December. Equipment managers can join the group anytime this month to provide feedback and access quarter-to-quarter trends. Baromitr’s visualization features also allow members to analyze performance and compare their performance against other group members.
The data-driven index is powered by Baromitr, a scalable peer-to-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.
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