In the third quarter the confidence of U.S. engineering CEOs ticked up from an all time low, 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 score dropped rose from 60.2, the lowest score since ACEC began the Index in the first quarter of 2014, to 61.4.
“Things are going very well right now,” one respondent said. “Revenue, backlog, profitability are at all-time highs.” Others expressed concern about the effects of the protracted election season “and less than promising candidates.”
But expectations of market conditions a year from now rose 6.2 points to 63.3, the largest quarter-over-quarter increase since the EBI’s inception.
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