U.S. engineering firm CEOs remain encouraged about overall company performance and market trends. They also see strong signs of recovery in industry employment, this according to the latest ACEC Engineering Business Index (EBI), which charts the health of the engineering industry.
EBI is a diffusion index, consolidating hundreds of engineering leader responses nationwide on market and firm performance into a single “confidence” number. Any score over 50 indicates expansion.
The third quarter EBI (Q3), conducted Sept. 17 to Oct. 3 of 275 engineering CEOs, presidents and chairmen, produced a positive composite score of 68.8, virtually unchanged from 68.9 in the second quarter.
Survey respondents reported a strong rebound in hiring: 67.4% said employment at their firm was equal to or higher now than pre-recession (2008) levels; 25% said employment was “at least 10%” higher. Only 32.7% said employment was lower.
Engineering leaders remained encouraged by company performance: 65% reported higher backlogs compared to this time last year—significantly more than the 51% in the second quarter. Almost half of Q3 respondents (49.3%) expect backlogs to increase further over the next 12 months.
Respondents also believe most private markets will continue to thrive: 61.7% expect improvement over the coming year in Land Development, 56.1% in Energy and Power, and 53.1% in Buildings and Commercial.
Public market expectations, however, continue to lag: only 43.8% of respondents believe the Water and Wastewater segment will improve by next year; only 39.7% said Transportation will improve.
For the complete Q3 summary of ACEC’s Engineering Business Index (EBI) go to www.acec.org.
Related Stories
| May 9, 2014
It's official: Norman Foster-designed Harmon hotel and casino to be razed due to structural issues
Construction of the Las Vegas tower was halted in 2008 after experts discovered faulty steel beams in the structure. Now its owner, MGM, has received permission to demolish the building.
| May 9, 2014
5 trends transforming higher education
Performance-based funding models and the adoption of advanced technologies like augmented reality for teaching are just a few of the predictions offered by CannonDesign's higher education sector leader, Brad Lukanic.
| May 9, 2014
40 Under 40: Where are they now?
BD+C catches up with two past U40 honorees: Matt Dumich of Adrian Smith + Gordon Gill Architecture and David Montalba of Montalba Architects
| May 8, 2014
Perfecting prefab: 8 tips for healthcare construction projects
Leading AEC firms offer helpful advice for using BIM to pull off prefab for everything from MEP infrastructure to whole bathrooms.
| May 8, 2014
Don’t bother planning for the future - it doesn’t care about you
Though strategic planning has helped many businesses move forward, its time has passed. So says Economist and Author Bill Conerly. SPONSORED CONTENT
| May 8, 2014
Infographic: 4 most common causes of construction site fatalities
In honor of Safety Week, Skanska put together this nifty infographic on how to prevent deadly harm in construction.
| May 8, 2014
Sporting events in style: Infographic showcases novel stadiums of the world
UK precast concrete maker Banagher, which specializes in precast stadia solutions, has assembled a list of the world's top stadiums in terms of architectural and structural design.
| May 7, 2014
Design competition: $900,000 on the line in Las Vegas revitalization challenge
Las Vegas Mayor Carolyn Goodman wants your economic development ideas for remaking four areas within the city, including the Cashman Center and the Las Vegas Medical District.
| May 6, 2014
'Beyond' is artist's cinematic take on 2.5 years of development in the UAE
Seven-minute video offers a time-lapse trip through the built environments of Abu Dhabi and Dubai.
