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
| Mar 22, 2012
Symposium on water efficiency: How much more water can be saved?
The Third International Emerging Technology Symposium by IAPMO and the World Plumbing Council features a session on water efficiency.
| Mar 22, 2012
Broker doesn’t have to inform contractor that insurer went broke, California court rules
A California appellate court ruled that an insurance broker did not have a duty to inform a subcontractor that a project’s insurer had gone bankrupt.
| Mar 22, 2012
Public agencies shouldn’t negotiate project labor agreements, says AGC official
When a public agency rather than the contractor negotiates a PLA with unions, it interferes with the right of employers and workers to reach their own agreements on working conditions and benefits, says Steve Isenhart, president of the Associated General Contractors of Washington.
| Mar 22, 2012
Proposed rule would let crane operators get licenses without prior city experience
The Bloomberg administration is considering letting operators of giant tower cranes get their license without requiring that they first run cranes as apprentices in the city for three years.
| Mar 22, 2012
Bill would reintroduce “opt-out” provision in lead paint law
The Lead Exposure Reduction Amendments Act of 2012 (S2148) would restore the "Opt-Out" provision removed from the Environmental Protection Agency's Lead Renovate, Repair and Painting (LRRP) rule in April 2010.
| Mar 15, 2012
New Florida building code establishes flood and storm surge provisions
The new 2010 code establishes minimum design and construction requirements to protect buildings from wind, rain, floods, and storm surges.
| Mar 15, 2012
Illinois city rejects international code due to home sprinkler requirement
Macomb, Illinois aldermen voted to recommend that the city not adopt 2012 international building and residential code standards requiring the installation of overhead sprinkler systems in newly constructed one-family and two-family homes.
| Mar 15, 2012
Tenant advocates propose licensing landlords in New York City
With thousands of New York City rental units posing potential dangers to tenants, city advocates are proposing measures to make landlords improve building safety.
| Mar 15, 2012
Construction industry a big winner in federal small disadvantaged business procurement
Last year, only 5% of federal contract dollars went to small disadvantaged businesses. Construction and facilities support firms were the biggest beneficiaries.
