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
| Jan 30, 2014
The evolving workplace: One designer's inspiration board
"Open office" has been a major buzzword for decades, and like any buzzword, some of the novelty has worn off. I don't believe we will abandon the open office, but I do think we need to focus on providing a dynamic mix of open and closed spaces.
| Jan 30, 2014
How reverse engineering nature can spur design innovation
It’s not enough to copy nature. Today’s designers need a deeper understanding of environmental nuance, from the biome in.
| Jan 30, 2014
What to expect in the metal building industry in 2014
Every year brings changes. This one won’t be any different. We’ll see growth in some areas, declines in others. Here’s a little preview of what we’ll be writing about 2014 when 2015 comes rolling in.
| Jan 30, 2014
What's in store for healthcare capital markets in 2014?
Despite the shake up stemming from the Affordable Care Act, 2014 will be an active year in healthcare capital markets, according to real estate experts from CBRE Healthcare.
| Jan 29, 2014
Richard Meier unveils 'urban courtyard' scheme for Mexico City towers
A grand atrium, reaching some 30 stories, highlights the contemporary, bright-white design scheme unveiled this week by Richard Meier & Partners for a new mixed-use development in Mexico City.
| Jan 29, 2014
Hotel, retail, recreation sectors to lead growth in 2014
AIA's Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, is projecting that spending will see a 5.8% increase in 2014, led by the hotel, retail, and amusement/recreation sectors.
| Jan 29, 2014
Notre Dame to expand football stadium in largest project in school history
The $400 million Campus Crossroads Project will add more than 750,000 sf of academic, student life, and athletic space in three new buildings attached to the school's iconic football stadium.
| Jan 28, 2014
White Paper: How metal buildings deliver long-term value to schools
A new white paper from Star Building Systems outlines the benefits of metal buildings for public and private school building projects.
| Jan 28, 2014
First Look: BIG's Honeycomb building for Bahamas resort [slideshow]
BIG + HKS + MDA have unveiled the design for the new Honeycomb building and adjacent plaza in The Bahamas – a 175,000-sf residential facility with a private pool on each balcony.
| Jan 28, 2014
2014 predictions for skyscraper construction: More twisting towers, mega-tall projects, and 'superslim' designs
Experts from the Council on Tall Buildings and Urban Habitat release their 2014 construction forecast for the worldwide high-rise industry.
