The latest Industry Barometer from the European Federation of Engineering Consultancy Associations (EFCA) shows that European consulting engineering market is profoundly affected by the COVID-19 pandemic and that business for the first half of 2020 is dropping on all fronts.
The crisis impacts hiring polices, order stock, turnover and profitability alike. The largest challenge currently is the lack of projects.
Amid the COVID-19-crisis, late payments and political uncertainty have grown in importance. The COVID-19 crisis affects all countries in the EU, and it calls for a European response, in addition to the national measures that are taken. EFCA therefore welcome the initiatives taken by the European Commission, both regarding the European Green Deal and the more direct recovery initiatives such as the reinforced multiannual financial framework for 2021-2027 (MFF) and Next Generation EU
EFCA Spring Barometer is available here.
EFCA Press Release is available here.