More than two in three U.S. engineering firm leaders (68%) say the current business climate is better than last year at this time; and three in five (60.5%) say their backlogs are larger now compared to last year, according to results from the American Council of Engineering Companies’ new quarterly Engineering Business Index (EBI).
The EBI, representing responses of 340 engineering firm chairmen, CEOs and presidents had a composite score of 68.9 in the second quarter—a slight increase from 67.4 in the first quarter. The EBI is a diffusion index, consolidating answers to a series of questions about market and firm performance into a single number. Any number over 50 indicates expansion.
Results show that engineering firm leaders are more optimistic about prospects in private sector markets than those in the public sector. At least half believe that opportunities in buildings/commercial (53.3%), land development/surveying (54%), and industrial/manufacturing (50%) will improve over the next 12 months.
Expectations for major public sector markets were markedly lower. Only 41.5% of respondents anticipate improvement in the transportation sector, and only 40.9% believe opportunities in the water/wastewater sector will grow over the next 12 months.
“After years of a stagnant economy, engineers are beginning to see evidence of an improved business climate,” said ACEC President and CEO David A. Raymond. “Uncertainty regarding government funding is obviously dampening expectations for public sector markets.”
For a complete summary of the Summer 2014 EBI survey, go to: www.acec.org
Related Stories
| Aug 8, 2013
Top Science and Technology Sector Engineering Firms [2013 Giants 300 Report]
Affiliated Engineers, Middough, URS top Building Design+Construction's 2013 ranking of the largest science and technology sector engineering and engineering/architecture firms in the U.S.
| Aug 8, 2013
Top Science and Technology Sector Architecture Firms [2013 Giants 300 Report]
HDR, Perkins+Will, HOK top Building Design+Construction's 2013 ranking of the largest science and technology sector architecture and architecture/engineering firms in the U.S.
| Aug 8, 2013
Top Science and Technology Sector Construction Firms [2013 Giants 300 Report]
Skanska, DPR, Suffolk top Building Design+Construction's 2013 ranking of the largest science and technology sector contractors and construction management firms in the U.S.
| Aug 8, 2013
Level of Development: Will a new standard bring clarity to BIM model detail?
The newly released LOD Specification document allows Building Teams to understand exactly what’s in the BIM model they’re being handed.
| Aug 8, 2013
Blueprint for a boom town: Potential pitfalls for booming development
Accolades for Nashville, Tenn., my hometown and GS&P’s flagship location, just keep piling up. In 2011, Forbes named Nashville No. 3 on their list of “The Next Big Boom Towns in the U.S." All of these accolades are wonderful, but Nashville now must work hard to prove their longevity—to grow and build intelligently.
| Aug 8, 2013
Does billing by the hour still make sense?
What’s an idea really worth? That’s the question posed by The New York Times in a provocative article that explores whether the notion of billing time still makes economic sense.
| Aug 8, 2013
Vertegy spins off to form independent green consultancy
St. Louis-based Vertegy has announced the formation of Vertegy, LLC, transitioning into an independent company separate from the Alberici Enterprise. The new company was officially unveiled Aug. 1, 2013
| Aug 6, 2013
CoreNet: Office space per worker shrinks to 150 sf
The average amount of space per office worker globally has dropped to 150 square feet or less, from 225 square feet in 2010, according to a recent global survey conducted by CoreNet Global.
| Aug 6, 2013
Australia’s first net zero office building features distinctive pixelated façade
Australia's first carbon neutral office building, featuring a distinctive pixelated façade, recently opened in Melbourne.
| Aug 5, 2013
Top Retail Architecture Firms [2013 Giants 300 Report]
Callison, Stantec, Gensler top Building Design+Construction's 2013 ranking of the largest retail architecture and architecture/engineering firms in the United States.
