Last week’s new home sales figures raised fresh questions about a housing market slowdown, but one thing is clear: Construction-related industries have been among the fastest-growing industries in the U.S. over the past 12 months.
Sageworks, a financial information company, conducted a financial statement analysis of privately held companies to identify the fastest-growing industries of the last 12 months, and among the top 20 (see below), 12 are tied to construction. Real-estate agents and brokers, residential builders, foundation contractors and lumber wholesalers are among the top six. On the commercial construction side, nonresidential builders, engineering firms and heavy-construction (non-highway) firms are ranked 9th through 11th, respectively.
“The economy is just improving in general, and these industries are indicators that things are moving in the right direction,” said Sageworks analyst Chuck Nwokocha.
All of the industries in the list that are tied to construction experienced sales growth over the last 12 months that is anywhere from 2 to 15 percentage points higher than the average sales growth among all privately held companies in Sageworks’ database.
And while there’s no guarantee these industries will continue growing at a strong pace, Nwokocha said, they may have been creating opportunities for other industries that provide supplies, distribution or back-office services.
Click HERE to read more of this article from Forbes.
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