PORTLAND, Maine— BlueTarp Financial has released its Q1 2017 Building Supply Index. The Q1 index value is at 117.90, a material improvement from 107.74 in Q1 2016.
To interpret the index, values below 100 reflect recessionary or recovering performance. Values above 100 reflect healthy economic activity.
The Building Supply Index also calculates a trailing 12-month average to account for seasonality. The month of March 2017 saw an all-time high of 121.28, indicating that the outlook of the economy remains on an upward trend. While other macro-economic inputs only slightly improved, March’s consumer confidence skyrocketed to 125.6, the highest it’s been since December 20001.
As a supplement to the Building Supply Index, BlueTarp conducts a quarterly survey of its contractors to gauge sentiment on the current and future state of the economy. Q1 2017 contractor optimism for the next 12-months stabilized after seeing a spike in Q4 of last year.
Respondents are anticipating a more business friendly environment driven by President Trump.
“We are continuing to see strength in the building supply industry as March’s 12-month trailing average hit an all-time high,” said Scott Simpson, president and CEO of BlueTarp. “Our contractors also largely maintained their optimism from Q4 2016.”
The report represents trends from 120,000 pro customers and more than 2,000 building material suppliers across the United States. It also incorporates macro-economic drivers including: building permits, construction spend and consumer confidence as reported monthly by the Census Bureau and The Conference Board.
Source: BlueTarp Financial