For 25 years, CIT Equipment Financing has been forecasting the nation's construction activity. Its recently released findings for the upcoming year, though, forecast the expected slowdown from the historically high levels of construction activity.
The national Optimism Quotient (OQ) was reported at 93 OQ, which marks a nine-point drop versus last year and the first time the quotient has fallen below the 100 benchmark since 1997. According to the company, an OQ below 100 indicates a likelihood that construction activity will decline.