ACEC: 68% of Engineering Firms Report Improved Finances Since COVID
WASHINGTON — Despite the challenging economy, an increasing majority of U.S. engineering firm leaders (68%) say their firm’s finances have improved or at least remained the same since COVID-19 paralyzed the marketplace in March — a significant increase over the 58% who affirmed the same in May, according to the latest ACEC Research Institute Business Impact Survey.
“Six months into the pandemic and uncertainty is still the watchword for the engineering industry,” said John Carrato, chair, ACEC Research Institute. “While it is promising that firm finances have seen improvement since our last survey, there are many remaining unknowns about how the pandemic is going to affect office cultures and business travel in the long run as well as the number of new projects in the next 12 months due to the downturn in revenue for many clients.”