Confidence in construction markets is high among U.S. engineering leaders: ACEC survey

In the midst of political and economic uncertainty, U.S. engineering firm leaders expressed newfound optimism in the current status and future potential of primary markets, according to the latest Engineering Business Index (EBI), just released by the American Council of Engineering Companies (ACEC).

The 3rd Quarter 2016 (Q3/2016) EBI was 61.4, up 1.2 points from the Q2/2016 score of 60.2—which was the lowest score since ACEC launched the EBI in January 2014.

EBI is a diffusion index that charts the health of the engineering industry by consolidating senior leadership responses on market and firm performance into a single composite score. Any number above 50 indicates expansion. The Q3/2016 survey of 326 engineering firm leaders was conducted September 15 to October 5.

Market expectations for one year from today among engineering firm leaders rose a healthy 6.2 points to 63.3—the largest quarter-to-quarter increase since the EBI’s inception. The increased optimism for one year from today was reflected in nine of the 11 surveyed market sectors—a drastic turnaround from the Q2/2016 survey, when engineering leaders expected only one of the 11 sectors—energy and power—to improve over the coming year.

Among public markets, transportation was the strongest sector, up 2.1 points to 64.2. Other rising sectors include water/wastewater (up 0.9, to 63.0); healthcare construction (up 0.8, to 55.8), and education facilities (up 3.0, to 55.0).

Only the environmental sector fell, dropping 0.8 points to 54.3. Among private markets, firm leaders were most bullish about the buildings sector, up 4.4 points to 62.9, followed by energy and power (up 0.7, to 60.4), land development (up 1.2, to 60.2), and Industrial/Manufacturing (up 2.8, to 58.2).

For the complete summary of ACEC’s Q3/2016 Engineering Business Index (EBI), go to www.acec.org.

Designed by Bjarke Ingels Group (BIG) in collaboration with HNTB, the new ballpark for the Oakland Athletics Major League Baseball team will be located on the Las Vegas Strip and offer panoramic views of the city skyline. The 33,000-capacity covered, climate-controlled stadium will sit on nine acres on Las Vegas Boulevard.

Adaptive Reuse | Mar 7, 2024

3 key considerations when converting a warehouse to a laboratory

Does your warehouse facility fit the profile for a successful laboratory conversion that can demand higher rents and lower vacancy rates? Here are three important considerations to factor before proceeding.

The Freedom Plaza shopping center in Los Angeles was designed to be a reflection of the people of Watts, Calif., and to serve as a community-centric gathering space.

Shopping Centers | Mar 7, 2024

How shopping centers can foster strong community connections

In today's retail landscape, shopping centers are evolving beyond mere shopping destinations to become vibrant hubs of community life. Here are three strategies from Nadel Architecture + Planning for creating strong local connections.

Market Data | Mar 6, 2024

Nonresidential construction spending slips 0.4% in January

National nonresidential construction spending decreased 0.4% in January, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.190 trillion.

For The Variel in Woodland Hills, Calif., general contractor W.E. O'Neil used prefabricated wall panels to expedite construction. Photo courtesy W.E. O'Neil

MFPRO+ Special Reports | Mar 6, 2024

Top 10 trends in senior living facilities for 2024

The 65-and-over population is growing faster than any other age group. Architects, engineers, and contractors are coming up with creative senior housing solutions to better serve this burgeoning cohort.

Office Buildings | Mar 5, 2024

Former McDonald’s headquarters transformed into modern office building for Ace Hardware

In Oak Brook, Ill., about 15 miles west of downtown Chicago, McDonald’s former corporate headquarters has been transformed into a modern office building for its new tenant, Ace Hardware. Now for the first time, Ace Hardware can bring 1,700 employees from three facilities under one roof.

Green | Mar 5, 2024

New York City’s Green Economy Action Plan aims for building decarbonization

New York City’s recently revealed Green Economy Action Plan includes the goals of the decarbonization of buildings and developing a renewable energy system. The ambitious plan includes enabling low-carbon alternatives in the transportation sector and boosting green industries, aiming to create more than 12,000 green economy apprenticeships by 2040.