AEC Professionals Surprisingly Cautious in 2019
Despite positive indications that the CRE Industry is destined for continued growth in 2019, an October Building Design and Construction study had some surprising findings. 314 readers were asked about their predictions for 2019, including their thoughts on a variety of issues including materials prices, bid prices, obstacles to growth, and emerging opportunities.
According to the study, 54.7 percent of readers expect revenue to increase, 8.7 percent call for a drop, and 36.7 percent predict flat revenue in 2019.
When asked about top concerns for 2019, the largest number of respondents cited “general economic conditions” (52.7 percent) as a key issue, followed by “competition from other firms” (41.0 percent) and “price increases in materials and services” (39.0 percent). In fact, nearly 90 percent of respondents anticipate construction materials prices to rise in 2019, up from 86 percent in last year’s survey of BD+C readers.