Construction’s contribution to US economy at 7-year high, ABC says

Dive Brief:

Real residential and nonresidential construction investment, adjusted for inflation, was 6.2% of U.S. gross domestic product in 2016, according to the Associated Builders and Contractors, a part of the industry’s seven-year economic contribution high.

The ABC reported that indirect spending as a result of construction activity — furniture and appliances for finished projects, how workers spend their wages — added an estimated 2% to 3% to the overall benefit the construction industry provided to the economy. The Bureau of Economic Analysis’ estimate of the value added to national and state GDP, a figure that excludes the cost of materials and certain other purchased services, was 4% in 2016, its highest level since 2008.

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