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 24, 2012
Boyer joins Thornton Tomasetti as vice president in New York office
Boyer will support Thornton Tomasetti’s Building Performance and Property Loss Consulting practices in the East U.S. region as well as nationally.
| Jul 24, 2012
Dragon Valley Retail at epicenter of Yongsan International Business District
Masterplanned by architect Daniel Libeskind, the Yongsan IBD encompasses ten city blocks and includes a collection of high-rise residences and commercial buildings.
| Jul 23, 2012
Venturi Scott Brown and Associates Becomes VSBA, LLC
After over fifty years as one of the world’s most renowned architects, Bob Venturi has retired from practice, while Denise Scott Brown continues to publish and present her work.
| Jul 23, 2012
Giants 300 Firm Index 2012
An alphabetical index of the Giants 300 AEC firms and their ranking in specific categories.
| Jul 23, 2012
Haynes Whaley announces leadership transition
Pronier has worked in the construction industry for the past 30 years.
| Jul 20, 2012
2012 Giants 300 Special Report
Ranking the leading firms in Architecture, Engineering, and Construction.
| Jul 20, 2012
Data Centers Report: Demand ‘exploding’
BD+C's Giants 300 Top 25 AEC Firms in the Data Center sector.
| Jul 20, 2012
Office Report: Fitouts, renovations keep sector moving
BD+C's Giants 300 Top 25 AEC Firms in the Office sector.
| Jul 20, 2012
K-12 Schools Report: ‘A lot of pent-up need,’ with optimism for ’13
The Giants 300 Top 25 AEC Firms in the K-12 Schools Sector.
| Jul 20, 2012
Higher education market holding steady
But Giants 300 University AEC Firms aren’t expecting a flood of new work.