ACCA contractor index shows economic growth
The results were part of the ACCA’s Contractor Comfort Index, which looks to gauge the economic attitudes of ACCA members.
In the near term, contractors report having somewhat favorable prospects, generating a CCI number of 60. This number is a bit more favorable than last month’s 55.
A rating higher than 50 reflects anticipated growth and one lower than 50 indicates expected contraction in the marketplace.
“Though there are still some significant economic hurdles in the marketplace, contractors are continuing to see short-term prospects that are favorable,” said John Sedine, ACCA’s board chairman. “More contractors are seeing new business and existing business opportunities move from the realm of ‘poor’ to ‘fair’ and that’s pushing sentiment farther into growth territory.”
The ACCA’s economic index is specific to HVACR contractors’ businesses. The CCI aims to view how contractors are feeling about their business in the near future. Based on a three-component survey completed monthly by ACCA contractor members, the CCI is a benchmark for contractors to compare their comfort levels with that of the industry average.
“In only its second month, the CCI is already showing us the general direction of contractors’ perceptions of the marketplace,” said Paul T. Stalknecht, president and CEO of the ACCA. “Over time, this tool will become increasingly essential in tracking and predicting the HVACR business cycle.”