COVID-19 Business Impact Survey Wave 8

More than 400 members participated in Wave 8 of the ACEC Research Institute Business Impact Survey, which was conducted September 15-18. The report includes an executive summary that highlights not only important significant results but also calls out differences in these results by firm size.  A few summary bullets are below-the attached full report provides more detail.

  • 75% of firms feel the condition of the US Economy is worse compared to March.
  • Fewer firms (down to 19% from 23% in May) are optimistic about a “return to normal” within six months.
  • 46% of firms still feel it will take another 12 to 18 months to return to normal.
  • Although increasingly pessimistic about a quick economic rebound, most firms report their finances and cash flow are the same or better than before the Pandemic.
  • 31% of firms say their backlog has increased since the beginning of March; 47% say their backlog has decreased.
  • 29% of firms say they have less than 3 months of backlog, 30% have 7 to 12 months of backlog and 13% have more than 12 months.
  • Nearly six out of ten firms (58%) indicate they have experienced Pandemic-related work stoppages. Larger firms are more likely to be affected by stoppages than smaller firms.
  • More firms report work stoppages in commercial (35%) and transportation (35%) markets than other markets.
  • 90% of office buildings are open, but only an average of 56% of employees are working in these buildings.
  • Larger firms are less likely to have employees working in office buildings. Larger firms report looking to reduce their office space.
  • The percentage of firms not allowing air travel to meetings/conferences has increased (more the 50% of firms.) The one exception is for meetings with 10 or fewer attendees.

Download the PDF: ACEC COVID-19 Business Impact Survey – Wave 8