Are contractors too confident?
I was happy with how our latest WT Insider Report turned out. The 2018 Contractor Confidence Index and Market Outlook shows a government market riding a wave of optimism.
Some 220 people responded to our survey, which we were very happy with. But the level of optimism surprised me.
The Contractor Confidence Index number hit 122.1, by far the highest recorded since we launched the survey. Granted the survey was out at around the time Congress was passing the budget for the next two years, which significantly raised the caps on defense and civilian spending. Corporate taxes have fallen significantly as well.
I agree that there is reason to be optimistic, but this optimistic?
Maybe I’m getting cynical but we still don’t have appropriations and even if they pass by March 23, that’s nearly six months into the fiscal year. Yes, that’s an improvement from last year but it still isn’t a great way to run a government.
And I agree that company leaders have more predictability into the market. But I think my confidence is tempered somewhat by the possible disrupters of the overall economy, the mid-term elections and other forces outside of anyone's control.
As I said in the report, time will tell if today’s confidence is justified.
In my earlier blog post about the report, I review some of the findings and particularly those around emerging technologies, IT modernization and the growing use of the “as-a-service” delivery model.
The full report is worth a read (I’m biased, of course) and is available as part of the WT Insider member program. Click here for more details on the benefits of membership.
Posted by Nick Wakeman on Feb 28, 2018 at 12:13 PM