The construction industry has seen steady improvement since 2009, but 2013 showed some signs of a slowdown in the growth process. The same goes for the first months of 2014, according to Sageworks. According to the Housing Starts report from the U.S. Census Bureau and Department of Housing and Urban Development, starts of new housing last month decreased by 5.9% compared to a year ago.
Even though growth is not as fast as before, construction is expanding faster than other areas of the economy. A big portion of the industries with highest growth are construction-related. Most of the growth comes from privately owned companies and their net profit margins are nearly at the levels before the recession. Residential construction is leading, as it started to improve already in 2010, while non-residential started only in 2011, but is also on a growth curve.