New construction, versus renovation, has been an interesting trend. Four reports ago, the split was 50/50. Last time, renovations dominated 62/38. Now, new construction is staging a comeback of sorts, ticking up to 42 percent. The value of furniture/fixtures and construction products installed also grew 14 percent, to $12 billion.
As for where all this work happens, the Rising Giants stay primarily in the U.S. For several years, firms flying strictly domestic hovered around 87 percent. This time, the percentage hit 90—in comparison to the 78 percent of the top 100 Giants who work only at home. Going forward, the Rising Giants continue to see the U.S. as the biggest source of growth, with particular hotbeds in the Northeast, South, and West. (Sorry, Heartland.)
Of the 100 firms, 57 saw growth, and the additional $46 million produced is the highest number since before the recession. But here’s the thing. Even firms with flat incomes or losses are feeling optimistic. A whopping 90 out of the 100 Rising Giants see a better year ahead. From our point of view, there isn’t much more to add except to say, “Let the good news roll.”