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.
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