One of the leading industry business organisations, the Association for Consultancy and Engineering (ACE), is set to reveal cautious optimism in the sector when it publishes its annual State of Business report in September.

Findings from the 32-page report, compiling answers from an extensive sample of members surveyed over five main sections, indicate that while the current economic climate is challenging, there are still opportunities for growth in the consultancy and engineering sector.

Chief executive Nelson Ogunshakin said although many member firms have found the last twelve months tough going, the situation is not all doom and gloom: "Considering this report has been produced against a background of economic stress, the results could have been far worse.

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"We're not trying to pull the wool over anyone's eyes - the past year has been devastating for some companies and that is an unpleasant but unavoidable truth."

ACE recently published an executive summary in anticipation of this year's report, which will be launched on 7 September 2009.

It pointed to a decline in construction output over the near team as well as constrained public spending, a difficulty in maintaining staff levels and limited access to skills.

This year's full report is expected to show the effects on ACE member firms of a challenging 12 months for the consultancy and engineering sector, with workloads and fee levels coming under heavy pressure while competition for each tender has also increased.

"When the credit crunch developed into a full scale economic recession, it presented the biggest challenge to the industry in almost 20 years," said Ogunshakin. "Challenging times and tough decisions still lie ahead, although levels of confidence and investment should begin to strengthen through 2010. ACE is pleased that this year's State of Business Report presents an accurate reflection of the sector in 2009 and the effect on our members of a testing twelve month period."

(GK/KMcA)