Chief financial officers of more than 100 large and small engineering firms are forecasting 4% average annual growth for the group in 2009, the lowest average since 1996, according to a survey by New York City-based industry management consultant EFCG Inc. The firms, which had 2008 revenue totaling $43 billion, are more optimistic about prospects in 2010, expecting 5.5% growth. CFOs had expected 10% revenue growth for 2008 in the same survey done a year ago, says EFCG President Paul J. Zofnass. Among respondents, 59% say their current outlook for 2009 was unchanged from a few months ago, while 32%
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.