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
| Aug 29, 2012
BOND completes South Cove Community Health Center
$11 million, 21,000 square foot community health center opens in Quincy, Mass.
| Aug 21, 2012
Under 40 Leadership Summit slated for October 3-5 in Chicago
Attendees will be given an exclusive technical tour of Wrigley Field, led by Steven J. Jacobsen, CDP, who has been retained by the Chicago Cubs to create the business plan and high-level concepts to evaluate the feasibility of various renovation options for this iconic sports venue; and Carl Rice, Cubs’ Vice President, Baseball Operations.
| Aug 21, 2012
Hong Kong’s first LEED Platinum pre-certified building opens
Environmentally-sensitive features have been incorporated, including reduced operational CO2 emissions, and providing occupiers with more choice in creating a suitable working environment.
| Aug 21, 2012
Stellar wins four ABC Excellence In Construction awards
ABC's Excellence In Construction program is the industry’s leading award competition, recognizing outstanding construction projects in a variety of categories.
| Aug 20, 2012
Protecting the artifacts at George H.W. Bush Presidential Library and Museum
Roof leaks threatened to damage artifacts and disturb a delicately controlled indoor environment at the George H.W. Bush Presidential Library and Museum.
| Aug 17, 2012
Ferreri joins PGAL as Principal
Ferreri will be responsible for business development, contract negotiation, project design through construction and staff management/mentoring.
| Aug 15, 2012
Architects and designers challenged in Allsteel’s reality design competition
KITS mobile app offers flexibility in planning.
| Aug 14, 2012
Leo A Daly welcomes Carl Gentilcore
Gentilcore will be responsible for identifying, developing and managing client relations with key federal government agencies.
| Aug 14, 2012
SOM Foundation announces prize recipients for 2012
Submissions for the SOM Prize were received from students at 34 schools in the U.S.
| Aug 9, 2012
Slideshow: New renderings of 1 WTC
Upon its scheduled completion in early 2014, One World Trade Center will rise 1,776 feet to the top of its spire, making it the tallest building in the Western Hemisphere.
