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A new report from Forbes based on numbers from financial information firm Sageworks says that privately-owned construction companies have “bucked the overall trend” and have seen their sales growth continue while other sectors have seen them slow.
Construction companies have seen their sales grow since 2009, according to the Sageworks data. They saw 10.19 percent growth in 2011 and so far this year they’ve seen 10.62 percent growth. Manufacturing and retail on the other hand have seen dips this year, the data shows. Manufacturing is down to 8.87 percent growth from 14.66 percent in 2011 and retail is down to 5.88 percent growth from 9.87 percent.
“One possible explanation may be due to the fact that the rebound in construction started a bit later than it did in those other sectors,” Sageworks analyst Libby Bierman told Forbes. “Construction may be earlier in the recovery cycle than some of the other industries, like manufacturing and retail.”