Tough economic times ahead for consulting engineering industry
The Consulting Engineers South Africa (CESA) Bi-annual Economic and Capacity Survey for the period July to December 2015, just released indicates that times are tough and getting tougher with industry confidence the lowest in 16 years. The report indicates that the consulting engineering industry will have to adapt to a low growth environment as the outlook for infrastructure spending is hampered by poor economic growth, lower than expected revenue by government, international economic instability and price volatility, and low private sector confidence. Over 540 firms employing just over 24 315 staff, who collectively earn a total fee income of R23.4...