The economy is slowing, but ENR Midwest’s Top Design Firms showed robust growth over last year with participating firms reporting $8.1 billion in total regional revenue.
With a hawkish Federal Reserve pushing higher interest rates to fight inflation, the design market could be a canary in a coal mine for what some economists say will be a “mild” recession later this year.
As ENR Southwest’s recently published annual Top Starts ranking showed, 2022 proved to be an especially strong year for construction firms working in the states of Arizona, Nevada and New Mexico.
Southeastern design firms stayed busy and grew revenue in 2022, and as they look to the future, they expect to maintain that momentum as people continue to move to Southeastern metro areas and federal dollars support infrastructure investment.
Despite industry-wide increased material costs and labor shortages, specialty contractors in the New York and New England regions have bounced back from the COVID-19 pandemic.