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
Related Stories
Coronavirus | Jun 19, 2020
Experts address COVID-19's impact on nursing homes and schools on The Weekly
The June 18 episode of BD+C's "The Weekly" is available for viewing on demand.
Coronavirus | Jun 12, 2020
BD+C launches 'The Weekly,' a streaming program for the design and construction industry
The first episode, now available on demand, features experts from Robins & Morton, Gensler, and FMI on the current state of the AEC market.
Engineers | Jun 4, 2020
IMEG Corp. acquires Cardno Structural Engineering
The team joined IMEG on May 29.
Coronavirus | May 26, 2020
9 tips for mastering virtual public meetings during the COVID-19 pandemic
Mike Aziz, AIA, presents 9 tips for mastering virtual public meetings during the COVID-19 pandemic.
Coronavirus | May 18, 2020
Infection control in office buildings: Preparing for re-occupancy amid the coronavirus
Making workplaces safer will require behavioral resolve nudged by design.
Engineers | May 11, 2020
P2S Inc. acquires Notkin Mechanical Engineers
The move expands P2S’ engineering and commissioning presence into the Pacific Northwest.
Data Centers | May 8, 2020
Data centers as a service: The next big opportunity for design teams
As data centers compete to process more data with lower latency, the AEC industry is ideally positioned to develop design standards that ensure long-term flexibility.
Engineers | May 6, 2020
5 valuable questions building engineers will be asking after COVID-19
What will be the new normal in the post-COVID-19 world and to what extent will the way we interact with the built environment change?
Coronavirus | Apr 30, 2020
Gilbane shares supply-chain status of products affected by coronavirus
Imported products seem more susceptible to delays
Multifamily Housing | Apr 15, 2020
Related Group picks Stantec to design and engineer Manor Miramar residences in Florida
Related Group picks Stantec to design and engineer Manor Miramar residences in Florida.
