Housing had another strong quarter, growing at a 9.7 percent rate in the second quarter after a 20.5 percent growth rate in the first quarter. Residential investment remains badly depressed, accounting for less than 2.5 percent of GDP. This compares to a pre-housing bubble average of close to 3.5 percent. It is likely that housing will continue to grow over the next year, providing a modest boost to output.

gdp-2012-07-ge

For more, check out the latest GDP Byte.

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