Fourth ACEC Member Survey: Federal Stimulus Package Sows Optimism

ACEC News / Coronavirus

April 13, 2020

Fourth ACEC Member Survey: Federal Stimulus Package Sows Optimism

A substantial majority of ACEC members participating in the fourth ACEC member survey on the impact of COVID-19 are optimistic about the federal stimulus package and are participating in the Payroll Protection Program

Key highlights:

• Firms feel the federal stimulus package will have a positive impact (74% up from 51%).
• 72%of firms have already applied for the Small Business Administration (SBA) Payroll Protection Program (PPP). Another 14% plan to apply.
• 65% feel the U.S. economy will be worse in 30 days compared to today, but this represents a decline from 81% from week 3.
• Looking out 6 months, nearly 50% of firms feel the economy will improve while more than one-third think it will be worse. Sentiment about the firms’ finances and cash flow follows the same trend.
• Firms report they have taken various actions to shore up their finances (68% up from 58%.) Freezing non-essential purchases and implementing hiring freezes top the list.
• Firms are increasingly providing emergency paid leave (44% up from 34%.)
• Increase in the percentage of firms (63% up from 45% in Week 3) reporting delays in RFPs/RFQs or Awards due to COVID-19.
• Increase in the percentage of firms (76% up from 70% in Week 3) reporting project delays or cancellations due to COVID-19.

Click here to read the survey report.

 

 

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