Specific statistics on construction and market information can help you measure your performance as well as that of your competitors, putting your numbers into perspective with the overall industry picture. You've identified your business statistics but knowing your numbers doesn't help if you can't compare them to others in the field and analyze them to better your business.

Construction industry statistics can help in the creation of your own operational and market objectives. Effective analysis can also show trends and lead to projections for future business growth. Identifying strengths and weaknesses and working to improve those areas can help solidify your standing in the industry.

Consider the following statistical information that may help you in this area:

1. Construction company statistics indicate some 883,000 construction outfits in the United States in 2006.

2. Housing construction statistics vary from month to month and year to year but overall their trend is used as an economic indicator.

3. US construction statistics indicate that construction of single-family residences makes up the largest percentage of construction activity.

Action Steps
The best contacts and resources to help you get it done

Obtain residential construction statistics

Governmental entities-whether it be on the federal, state, county or city level-may be able to provide statistics in the area of residential construction. As a general contractor, the majority of your work may comes from new house starts. Understanding these statistics will help you understand your own business and help you set goals for the coming year.

I recommend: Metropolitan Council provides information on residential building permits and you can also search by city. Get data on the outlook for new residential construction and other sectors from the Financial Forecast Center.

Find construction project statistics including building and material costs

Material costs make up a huge chunk of your budget and affect how you bid projects. Keep up on the trends for lumber and other supplies so you can more effectively watch your bottom line.

I recommend: Building materials data and reports can be accessed easily via the National Association of Home Builders. Turner Construction Company offers statistical data in a chart format on the forecast for building construction costs.

Obtain commercial construction statistics

Commercial building construction is another industry segment subject to much research and statistical data. Even if commercial construction isn't your company's main focus, use statistics to help you indicate trends in the industry overall and be better prepared when that occasional commercial project comes up.

I recommend: The U.S. Census Bureau provides statistical information on commercial building construction by year or employment size of the business. Order market research reports on commercial construction issues at MarketResearch.com.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Modular construction statistics indicate a growing popularity, with North Carolina, New York and Michigan leading the nation in the number of modular homes built annually.