Survey: Engineering firm leaders bullish on business climate

More than two in three U.S. engineering firm leaders (68%) say the current business climate is better than last year at this time; and three in five (60.5%) say their backlogs are larger now compared to last year, according to results from the American Council of Engineering Companies’ new quarterly Engineering Business Index (EBI).

The EBI, representing responses of 340 engineering firm chairmen, CEOs and presidents had a composite score of 68.9 in the second quarter—a slight increase from 67.4 in the first quarter. The EBI is a diffusion index, consolidating answers to a series of questions about market and firm performance into a single number. Any number over 50 indicates expansion.

Results show that engineering firm leaders are more optimistic about prospects in private sector markets than those in the public sector. At least half believe that opportunities in buildings/commercial (53.3%), land development/surveying (54%), and industrial/manufacturing (50%) will improve over the next 12 months.

Expectations for major public sector markets were markedly lower. Only 41.5% of respondents anticipate improvement in the transportation sector, and only 40.9% believe opportunities in the water/wastewater sector will grow over the next 12 months.

“After years of a stagnant economy, engineers are beginning to see evidence of an improved business climate,” said ACEC President and CEO David A. Raymond. “Uncertainty regarding government funding is obviously dampening expectations for public sector markets.”

For a complete summary of the Summer 2014 EBI survey, go to: www.acec.org

Since early 2020, Americans have been forced to sequester themselves in their homes with outdoor activities, in most cases, being the sole respite for social distancing. And many of people are going back to the basics with a quintessential outdoor activity: biking. Bike sales absolutely skyrocketed during the pandemic, growing by 69% in 2020.

Contractors | Jul 23, 2021

The aggressive growth of Salas O'Brien, with CEO Darin Anderson

Engineering firm Salas O'Brien has made multiple acquisitions over the past two years to achieve its Be Local Everywhere business model. In this exclusive interview for HorizonTV, BD+C's John Caulfield sits down with the firm's Chairman and CEO, Darin Anderson, to discuss its business model.

Wood | Jul 16, 2021

The future of mass timber construction, with Swinerton's Timberlab

In this exclusive for HorizonTV, BD+C's John Caulfield sat down with three Timberlab leaders to discuss the launch of the firm and what factors will lead to greater mass timber demand.

Multifamily Housing | Jul 15, 2021

Economic rebound leads to record increase in multifamily asking rents

Across the country, multifamily rents have skyrocketed. Year-over-year rents are up by double digits in nine of the top 30 markets, while national YoY rent growth is up 6.3%. Emerging from the pandemic, a perfect storm of migration, enhanced government stimulus and a hot housing market, among other factors, has enabled this extremely strong growth.