News

Engineering CEOs see strength in spending

The third-quarter Engineering Business Index Survey is bullish on construction spending.

BY HBSDealer Staff

The American Council of Engineering Companies 3rd quarter survey of engineering firm CEO confidence indicates continued optimism for the strength of the architecture/engineering/construction market, with total construction spending at record high levels, growing profitability expectations and many firms with substantial backlogs of work that will carry well into the future.

The good news also comes with some caution based on uncertainties over whether the economy can sustain this growth and whether the pipeline of engineering talent will be sufficient to fuel demand into the future.

CEOs report a much-improved economy as compared to twelve months ago, including a larger backlog of business and strong profitability expectations over the next six months, twelve months and three years.  The Engineering Business Index survey, which is carried out quarterly for ACEC by FMI Corporation, also highlights strong public sector markets – notably water and wastewater – as well as growth in most private market sectors, particularly health care and industrial/manufacturing.

“America’s engineering companies are busy right now, which is good news for the economy,” said ACEC President and CEO Linda Bauer Darr.  “But market watchers and policymakers need to take notice of the undercurrent of concern within these strong numbers.  In the near-term, is this growth run sustainable, and looking out over long-term, will we have sufficient numbers of engineers to support the key market sectors that are critical to a healthy economy?”

[View the latest EBI report here  www.acec.org]

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

What are your company's expectations for e-commerce growth in 2019?
  • Add your answer