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
Codes and Standards | Jan 9, 2019
Policymakers need to act to alleviate affordable housing crunch
Moody’s economist says costs including mortgage rates worsening situation.
Codes and Standards | Jan 8, 2019
Pittsburgh launches task force on construction industry fraud
Focus will be on wage violations.
Codes and Standards | Jan 7, 2019
Program uses low-cost sensors to monitor impact of stormwater mitigation systems
University/municipal partnership in Philadelphia aims to improve green infrastructure design.
Codes and Standards | Jan 7, 2019
Washington, D.C., to transition to 100% renewable energy by 2032
Includes measures to reduce emissions from buildings and transportation.
Codes and Standards | Jan 4, 2019
Canada’s National Building Code will include climate change obligations
New durability requirements for new buildings in the works.
Codes and Standards | Jan 4, 2019
LEED v4.1 beta registration begins in January
First releases are O+M, BD+C, and ID+C.
Codes and Standards | Jan 3, 2019
U.S. Appeals Court says general contractors can be cited for subcontractor violations
Ruling will prompt review of OSH decision that said GCs cannot be held liable for subs’ violations.
Codes and Standards | Jan 3, 2019
Tall mass timber code changes receive final approval
New provisions to be included in the 2021 International Building Code.
Codes and Standards | Jan 2, 2019
ASHRAE’s Low-Rise Residential Buildings standard update now available
Performance measures are at least 50% more efficient than 2006 IECC.
Codes and Standards | Jan 2, 2019
Study compares labor hours for various low-slope roofing options
Type of roof covering, project parameters, tool management, and crew efficiency all impact profitability.
