Engineering Executives Project Slower Growth
August 5, 2016
The Engineering Business Index (EBI), compiled by the American Council of Engineering Companies to measure the confidence of engineering CEOs, dropped in the second quarter of 2016.
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 score dropped from 64 in Q1 to 60.2, the lowest score since ACEC began the Index in the first quarter of 2014. The survey of 380 engineering firm leaders took place June 15-July 1.
The components of the score dropping the most are the comparison of Q2 market conditions to a year earlier and to a year in the future. The unsettled political situation seemed to be a major factor.
“Hopefully, after the national election, everything will settle down and we can get back to doing projects,” said one respondent.
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