U.S. engineering firm CEOs remain encouraged about overall company performance and market trends. They also see strong signs of recovery in industry employment, this according to the latest ACEC Engineering Business Index (EBI), which charts the health of the engineering industry.
EBI is a diffusion index, consolidating hundreds of engineering leader responses nationwide on market and firm performance into a single “confidence” number. Any score over 50 indicates expansion.
The third quarter EBI (Q3), conducted Sept. 17 to Oct. 3 of 275 engineering CEOs, presidents and chairmen, produced a positive composite score of 68.8, virtually unchanged from 68.9 in the second quarter.
Survey respondents reported a strong rebound in hiring: 67.4% said employment at their firm was equal to or higher now than pre-recession (2008) levels; 25% said employment was “at least 10%” higher. Only 32.7% said employment was lower.
Engineering leaders remained encouraged by company performance: 65% reported higher backlogs compared to this time last year—significantly more than the 51% in the second quarter. Almost half of Q3 respondents (49.3%) expect backlogs to increase further over the next 12 months.
Respondents also believe most private markets will continue to thrive: 61.7% expect improvement over the coming year in Land Development, 56.1% in Energy and Power, and 53.1% in Buildings and Commercial.
Public market expectations, however, continue to lag: only 43.8% of respondents believe the Water and Wastewater segment will improve by next year; only 39.7% said Transportation will improve.
For the complete Q3 summary of ACEC’s Engineering Business Index (EBI) go to www.acec.org.
Related Stories
| Dec 19, 2014
Zaha Hadid unveils dune-shaped HQ for Emirati environmental management company
Zaha Hadid Architects released designs for the new headquarters of Emirati environmental management company Bee’ah, revealing a structure that references the shape and motion of a sand dune.
| Dec 18, 2014
International Parking Institute and Green Parking Council collaborate with GBCI
The new collaboration recognizes importance of sustainable parking facility design and management to the built environment.
| Dec 18, 2014
In response to ultra-open and uber-collaborative office environments
Susan Cain’s bestselling 2012 book, "Quiet: The Power of Introverts in a World That Can’t Stop Talking" has made an impact on how we understand our current workforce, recognizing that at least one-third of the people we work with are introverts, writes SRG Partnership's Susan Gust.
| Dec 17, 2014
USGBC announces 2014 Best of Green Schools honorees
Houston's Monarch School was named the K-12 school of the year, and Western Michigan University was honored as the top higher-ed institution, based on environmental programs and education efforts.
| Dec 17, 2014
ULI report looks at growing appeal of micro unit apartments
New research from the Urban Land Institute suggests that micro units have staying power as a housing type that appeals to urban dwellers in high-cost markets who are willing to trade space for improved affordability and proximity to downtown neighborhoods.
| Dec 17, 2014
Demand softens, but outlook for Architecture Billings Index remains positive
The AIA's Architecture Billings Index for November was 50.9, down from a mark of 53.7 in October. Despite the drop, the ABI continued its seven-month run of positive scores (above 50).
Sponsored | | Dec 16, 2014
Quadcopters save project team $15K in warranty work
On a recent trip to see what technology Todd Wynne and the rest of the team at Rogers-O’Brien Construction have been tinkering with, I had a chance to experience firsthand which new hardware innovations will one day be applied in the AEC space.
| Dec 15, 2014
SHoP Architects plans to turn NY's Seaport District into pedestrianized, mixed-use area
The scheme includes a proposed 500-foot luxury residential tower that would jut out into the harbor, extending the Manhattan grid out into the waterfront.
| Dec 15, 2014
Frank Lloyd Wright School of Architecture launches fundraising campaign for independent incorporation
The Frank Lloyd Wright Foundation announced today that it approved a possible path toward independent incorporation of the Frank Lloyd Wright School of Architecture by raising $2 million before the end of 2015.
| Dec 12, 2014
Dunkin’ Donuts launches certification for green restaurant buildings
The company aims to build 100 new DD Green-certified restaurants by the end of 2016.
