EBI Trends Upward, Survey Respondents Indicate Uncertainty on Business Conditions in Upcoming Year
August 5, 2015
Engineering CEOs continue to remain positive about business prospects for the remainder of 2015, but less sure about prospects for 2016, according to the Engineering Business Index (EBI) compiled by the American Council of Engineering Companies.
The EBI charts the health of the engineering industry through member responses to a series of questions about company performance and market trends, consolidated into a single number. Any number over 50 indicates expansion.
The survey of 254 engineering firm leaders conducted June 15-July 6 resulted in a score of 63.6 — still strongly positive, but a decline from the highs of 68.9 and 68.8 registered in Q2 and Q3 of 2014, and the fourth straight quarter to show a decline.
“We expect 2016 to be a tough year,” said one respondent.
The CEOs also report that an increasing proportion of their work is from the private rather than public sector.
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