While investment in non-residential structures increased by 8.1 percent in the last quarter, it did not come close to offsetting the 14.3 percent decline in the first quarter. As a result of overbuilding from the bubble, non-residential construction is down by 1.6 percentage points of GDP from its prior peak. Similarly, residential construction is down by almost 4 percentage points from its bubble peak.

gdp-2011-07-ge

For more, check out our latest GDP Byte.

 survey banner

subscribe today!

Site Maintenance

"The CEPR website currently takes longer to load than usual. We hope to have this and other issues addressed shortly. While this much needed site maintenance is taking place, our content is still available so please continue to slooowwwly surf the pages of our site. Thank you for your patience."