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
MFPRO+ News | Feb 15, 2024
UL Solutions launches indoor environmental quality verification designation for building construction projects
UL Solutions recently launched UL Verified Healthy Building Mark for New Construction, an indoor environmental quality verification designation for building construction projects.
MFPRO+ News | Feb 15, 2024
Nine states pledge to transition to heat pumps for residential HVAC and water heating
Nine states have signed a joint agreement to accelerate the transition to residential building electrification by significantly expanding heat pump sales to meet heating, cooling, and water heating demand. The Memorandum of Understanding was signed by directors of environmental agencies from California, Colorado, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, and Rhode Island.
MFPRO+ News | Feb 15, 2024
Oregon, California, Maine among states enacting policies to spur construction of missing middle housing
Although the number of new apartment building units recently reached the highest point in nearly 50 years, construction of duplexes, triplexes, and other buildings of from two to nine units made up just 1% of new housing units built in 2022. A few states have recently enacted new laws to spur more construction of these missing middle housing options.
Hospital Design Trends | Feb 14, 2024
Plans for a massive research hospital in Dallas anticipates need for child healthcare
Children’s Health and the UT Southwestern Medical Center have unveiled their plans for a new $5 billion pediatric health campus and research hospital on more than 33 acres within Dallas’ Southwestern Medical District.
Architects | Feb 13, 2024
Pierluca Maffey joins Carrier Johnson + Culture as new Firmwide Head of Design
Carrier Johnson + Culture (CJ+C) has hired Pierluca “Luca” Maffey, International Assoc. AIA, as the firm's new Firmwide Head of Design and Design Principal.
K-12 Schools | Feb 13, 2024
K-12 school design trends for 2024: health, wellness, net zero energy
K-12 school sector experts are seeing “healthiness” for schools expand beyond air quality or the ease of cleaning interior surfaces. In this post-Covid era, “healthy” and “wellness” are intersecting expectations that, for many school districts, encompass the physical and mental wellbeing of students and teachers, greater access to outdoor spaces for play and learning, and the school’s connection to its community as a hub and resource.
Office Buildings | Feb 13, 2024
Creating thoughtful tech workplace design
It’s important for office design to be inspiring, but there are some practical principles that can be incorporated into the design of real-world tech workplaces to ensure they convey an exciting, sophisticated allure that accommodates progressive thinking and inventiveness.
Airports | Feb 13, 2024
New airport terminal by KPF aims to slash curb-to-gate walking time for passengers
The new Terminal A at Zayed International Airport in the United Arab Emirates features an efficient X-shape design with an average curb-to-gate walking time of just 12 minutes. The airport terminal was designed by Kohn Pedersen Fox (KPF), with Arup and Naco as engineering leads.
Higher Education | Feb 9, 2024
Disability and architecture: ADA and universal design at college campuses
To help people with disabilities feel part of the campus community, higher education institutions and architects must strive to create settings that not only adhere to but also exceed ADA guidelines.
Codes | Feb 9, 2024
Illinois releases stretch energy code for building construction
Illinois is the latest jurisdiction to release a stretch energy code that provides standards for communities to mandate more efficient building construction. St. Louis, Mo., and a few states, including California, Colorado, and Massachusetts, currently have stretch codes in place.
