Exotek has been working with the CSIA Benchmark Committee to review some longer-term metrics based on member contributions of data to Pulse which provide a pretty good data set for our analysis. In our latest business brief, we offer some of our initial insights. And together, with the committee, we intend to create a more extensive report of the findings.
Going straight to the punch line, the data reveals that the 18.8% revenue growth that we saw in the 4 quarters of 2019 prior to the pandemic…turned into a two-quarter drop of 15.0% … the best performers only dropped 7.2% over the first half of 2020.
Unfortunately, we also saw the continued trend of a dropping utilization rate. It is somewhat expected in these times to see this drop in productive work for our billable people but the concern comes from the long term trend in this direction. We captured a number of other observations in this business brief, so we encourage you to check it out.
We are also looking forward analyzing the Q3 numbers to see if they follow the strong trend we are seeing in other industry reports like the PMI.