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
| Jul 18, 2013
Top Government Sector Construction Firms [2013 Giants 300 Report]
Clark Group, Turner, PCL head Building Design+Construction's 2013 ranking of the largest government sector contractors and construction management firms in the U.S.
| Jul 18, 2013
Top Government Sector Engineering Firms [2013 Giants 300 Report]
Fluor, URS, AECOM top Building Design+Construction's 2013 ranking of the largest government sector engineering and engineering/architecture firms in the U.S.
| Jul 18, 2013
Top Government Sector Architecture Firms [2013 Giants 300 Report]
Stantec, HOK, HDR top Building Design+Construction's 2013 ranking of the largest government sector architecture and architecture/engineering firms in the U.S.
| Jul 18, 2013
GSA regains stature under Tangherlini, who looks to trim its holdings, cut energy costs [2013 Giants 300 Report]
Over the past 15 months, Acting GSA Administrator Dan Tangherlini has done a creditable job of restoring the agency’s standing with Congress and the public.
| Jul 18, 2013
Do third-corridor designs actually work for healthcare environments?
A recent study of a nursing unit assessed whether the space's third corridor does what it was intended to do: reduce noise and distraction to patients and nursing staff.
| Jul 18, 2013
LEGO takes on the iconic Sydney Opera House
This September, LEGO will expand its LEGO Creator Expert series with a 2,989-brick model of the iconic Sydney Opera House.
| Jul 17, 2013
Top Multifamily Construction Firms [2013 Giants 300 Report]
Lend Lease, Clark Group, Balfour Beatty top Building Design+Construction's 2013 ranking of the largest multifamily contractors and construction management firms in the United States.
| Jul 17, 2013
Top Multifamily Engineering Firms [2013 Giants 300 Report]
STV, URS, AECOM top Building Design+Construction's 2013 ranking of the largest multifamily engineering and engineering/architecture firms in the United States.
| Jul 17, 2013
Top Multifamily Architecture Firms [2013 Giants 300 Report]
IBI Group, Niles Bolton, Perkins Eastman top Building Design+Construction's 2013 ranking of the largest multifamily architecture and architecture/engineering firms in the United States.
| Jul 17, 2013
CBRE recognizes nation's best green research projects
A rating system for comparative tenant energy use and a detailed evaluation of Energy Star energy management strategies are among the green research projects to be honored by commercial real estate giant CBRE Group.