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
| Jan 15, 2014
6 social media skills every leader needs
The social media revolution—which is less than a decade old—has created a dilemma for senior executives. While its potential seems immense, the inherent risks create uncertainty and unease.
| Jan 15, 2014
Report: 32 U.S. buildings have been verified as net-zero energy performers
The New Buildings Institute's 2014 Getting to Zero Status report includes an interactive map detailing the net-zero energy buildings that have been verified by NBI.
| Jan 14, 2014
Sherwin-Williams unveils colormix 2014
Drawing influence from fashion, science, nature, pop culture and global traditions, Sherwin-Williams introduces colormix™ 2014, which captures colors that inspire creativity and design in today’s world. The four-palette collection provides design professionals with a guide to help them define the moods they want to create and select colors for their projects.
| Jan 13, 2014
Custom exterior fabricator A. Zahner unveils free façade design software for architects
The web-based tool uses the company's factory floor like "a massive rapid prototype machine,” allowing designers to manipulate designs on the fly based on cost and other factors, according to CEO/President Bill Zahner.
| Jan 13, 2014
AEC professionals weigh in on school security
An exclusive survey reveals that Building Teams are doing their part to make the nation’s schools safer in the aftermath of the Sandy Hook tragedy.
| Jan 13, 2014
6 legislative actions to ignite the construction economy
The American Institute of Architects announced its “punch list” for Congress that, if completed, will ignite the construction economy by spurring much needed improvements in energy efficiency, infrastructure, and resiliency, and create jobs for small business.
| Jan 12, 2014
CES showcases innovations: Can any of these help you do your job better?
The Consumer Electronics Show took place this past week in Las Vegas. Known for launching new products and technologies, many of the products showcased there set the bar for future innovators. The show also signals trends to watch in technology applicable to the design and building industry.
| Jan 12, 2014
The ‘fuzz factor’ in engineering: when continuous improvement is neither
The biggest threat to human life in a building isn’t the potential of natural disasters, but the threat of human error. I believe it’s a reality that increases in probability every time a code or standard change is proposed.
| Jan 12, 2014
5 ways virtual modeling can improve facilities management
Improved space management, streamlined maintenance, and economical retrofits are among the ways building owners and facility managers can benefit from building information modeling.
| Jan 11, 2014
Getting to net-zero energy with brick masonry construction [AIA course]
When targeting net-zero energy performance, AEC professionals are advised to tackle energy demand first. This AIA course covers brick masonry's role in reducing energy consumption in buildings.
