BlueTarp Building Supply Index reaches highest level since 2008
The Q4 2017 Building Supply Index, released by BlueTarp Financial, increased to 130.52 from 122.23 in the fourth quarter 2016. This marks the highest value on record since BlueTarp launched the index in 2008.
Values below 100 on the index indicate a recessionary or recovery performance, while values above 100 reflect healthy economic activity.
According to BlueTarp, consumer confidence is a main driver for the increased index level, showing another 4.5% increase over the previous quarter. The index reflects seasonal dips in construction spending and building permits but they continue to show growth over the same period last year.
As a supplement to the index, BlueTarp conducts a quarterly survey of its contractors to gauge sentiment on the current and future state of the economy. This quarter, BlueTarp saw contractor sentiment rise by 14% and said that contractors are encouraged by bipartisan collaboration, pro-business decisions and strong customer spending.
“The index has reached its highest value over the last 10 years. There is no denying times are good right now,” said Scott Simpson, president and CEO of BlueTarp. “Contractors expect this to continue or be further bolstered by the tax legislation. I remain concerned delinquencies quietly continue to inch upward.”
The report represents trends from 120,000 pro customers and more than 2,000 building material suppliers across the United States. It also incorporates macroeconomic drivers including: building permits, construction spending and consumer confidence as reported monthly by the Census Bureau and The Conference Board.
Based in Portland, Maine, Blue Tarp Financial is a credit management company specializing in B2B suppliers.
Values below 100 on the index indicate a recessionary or recovery performance, while values above 100 reflect healthy economic activity.
According to BlueTarp, consumer confidence is a main driver for the increased index level, showing another 4.5% increase over the previous quarter. The index reflects seasonal dips in construction spending and building permits but they continue to show growth over the same period last year.
As a supplement to the index, BlueTarp conducts a quarterly survey of its contractors to gauge sentiment on the current and future state of the economy. This quarter, BlueTarp saw contractor sentiment rise by 14% and said that contractors are encouraged by bipartisan collaboration, pro-business decisions and strong customer spending.
“The index has reached its highest value over the last 10 years. There is no denying times are good right now,” said Scott Simpson, president and CEO of BlueTarp. “Contractors expect this to continue or be further bolstered by the tax legislation. I remain concerned delinquencies quietly continue to inch upward.”
The report represents trends from 120,000 pro customers and more than 2,000 building material suppliers across the United States. It also incorporates macroeconomic drivers including: building permits, construction spending and consumer confidence as reported monthly by the Census Bureau and The Conference Board.
Based in Portland, Maine, Blue Tarp Financial is a credit management company specializing in B2B suppliers.