John McClelland to give ARA Q4 update

John McClelland, Ph.D., vice president for government affairs and chief economist for the American Rental Association (ARA), will present the latest equipment rental forecast and industry outlook at this year’s Working at Height Conference, Nov. 20 at Music City Center in Nashville.

McClelland’s presentation, “ARA’s Q4 Equipment Rental Forecast and Market Update,” will provide attendees with the latest economic indicators and metrics following the November U.S. Presidential election, including the latest ARA growth outlook following the Association’s downgraded forecast in August.

John McClelland, Ph.D., vice president for government affairs and chief economist for the American Rental Association. (Photo: John McClelland)

How will the Presidential election impact the market?

In May, the ARA announced that the U.S. equipment rental industry could reach $79.2 billion this year, with growth projections indicating a 9.7% increase.

But just three months later in August, the ARA announced softening growth projections for the remainder of 2024, downgrading its revenue forecasts for construction and tool rental revenues by -2.8% to $79.2 billion.

While the U.S. equipment rental market is poised for continued growth in the coming years despite numerous economic uncertainties, the Nov. 5 Presidential election has many professionals wondering what the U.S. economy, and specifically the construction market, will look like post-election.

“The general rule of thumb is that election years are tough, uncertainty is not great for the construction industry,” said Josh Nickell, vice president, ARA. “That being said, it usually doesn’t matter what happens. It’s just a question of, is it over and how can we react to the decision that’s been made?”

To hear how the ARA expects the end of ’24 to play out, as well as what opportunities 2025 could bring, book your place now to attend the Working at Height Conference by clicking here. And to read more about how a Trump or Harris Presidential term could impact the market, see our coverage here.

Speaker details

John McClelland has been the Vice President of Government Affairs and Chief Economist for the American Rental Association (ARA) for the past 22 years. In that capacity, McClelland has been responsible for developing and implementing all ARA national and state political, legislative and regulatory strategies and programs.

As ARA’s Chief Economist, McClelland plays an integral role in the development and production of ARA’s industry research. His Ph.D. in applied economics from the University of Georgia and 38 years of experience in Washington, DC, as a practicing economist, policy analyst and lobbyist give John a unique perspective on the economics and issues facing the U.S. equipment rental industry.