Source: Economics Group of Wells Fargo Bank, N.A.The EquipmentWatch Q1 Rental Update is available now. For most types of equipment, the market was stable with rental rates showing modest increases overall. Here are some notable takeaways:
- The biggest year over year increase in average weekly rate came from Single Drum Vibratory Compactors.
- Crawler Mounted Hydraulic Excavators and Telescoping Boom Rough Terrain Lift Trucks saw the largest increase in weekly rates.
- The Southern states experienced the highest rate increases this quarter.