A new study by Onvia says government contractors expect an increase in sales in 2017 to 2018 compared to their performance in 2016.
Onvia said Thursday its market research team created the 2017 Onvia Government Contractor Confidence Index using survey responses from 424 companies that sell to federal, state, local and education agencies.
The GCCI is based on a 0-200 scale where 0 indicates “extremely low confidence” in sales performance, 100 means neutral and 200 shows “extremely strong confidence.”
The 2017 GCCI set a record high score at 135.8, which reflects a 5 percent increase from 2016’s score of 129.4, Onvia added.
“The 5 percent increase in this year’s score was driven most notably by 21 percent improvement in expectations for overall agency spending and 8 percent improvement in the outlook for funding in specific departments,” said Paul Irby, an Onvia market analyst.
Participating vendors were asked about their sales performance in the past year as well as their expected change in sales, outlook for overall government agency spending and expectations for individual agency budgets in the next 12 months.