The ACEC Research Institute found widespread optimism among engineering firm executives in its second quarterly Engineering Business Sentiment study.
A large majority of firm leaders are “extremely optimistic” about the current state of their firms and the engineering industry. This bright outlook is strong, despite a drop in the faith of the future of the U.S. economy.
“The Net Rating for the current state of firms’ overall finances is a staggering +88 and +82 for the engineering and design services industry today,” according to an ACEC news release. “As a comparison, in the first sentiment survey conducted in October 2021, those numbers were +83 for firm finances and +74 for the industry.” The survey used a “Net Ratings” system, in which negative responses are subtracted from positive ones.
The study, which surveyed more than 600 ACEC member firm executives, also turned up concerns over inflation and hiring. Some 73 percent of respondents said they are extremely concerned about inflation. Much of the optimism can be attributed to the passage of the Infrastructure Investment and Jobs Act (IIJA) at the end of last year.
Related Stories
Market Data | Apr 8, 2019
Engineering, construction spending to rise 3% in 2019: FMI outlook
Top-performing segments forecast in 2019 include transportation, public safety, and education.
Codes and Standards | Apr 5, 2019
Manhattan expected to adopt congestion pricing plan for automobiles
New York would be first U.S. city to charge drivers extra for downtown motoring.
Codes and Standards | Apr 4, 2019
Chicago makes major building code overhaul
Previous comprehensive changes were done 70 years ago.
Codes and Standards | Apr 3, 2019
Construction advanced materials makers can enhance industry efficiency with technology
Integration of new IT approaches in construction with new materials has potential to enhance sustainability, alleviate worker shortage.
Codes and Standards | Apr 2, 2019
Open offices reduce collaboration among employees
Counterintuitive finding makes value of wide open workspaces questionable.
Codes and Standards | Mar 29, 2019
New timber traceability LEED credit released
Pilot credit aims to reduce use of illegal wood in buildings.
Codes and Standards | Mar 28, 2019
Swinerton forms new mass timber business group
Will pursue new projects being developed with mass timber.
Codes and Standards | Mar 27, 2019
Shortage of skilled construction workers resulting in missed deadlines
Some 40% of contractors have turned down project offers.
Codes and Standards | Mar 25, 2019
ICC release 2019 guidelines for safe use of repurposed shipping containers
Provides in-depth, technical overview on how to design, review, and approve shipping containers as building elements.
Codes and Standards | Mar 22, 2019
Tool helps cities develop framework for life-cycle energy policies and track progress
Identifies policies, funding sources to address building energy use.
