Construction is among the leading industries that contributed to the 3.9% increase in U.S. economic growth in the second quarter of 2015, according to a release Thursday by the Bureau of Economic Analysis (BEA).
The BEA report analyzed the breakout of gross domestic product (GDP) by industry, and found that 18 out of 22 industry groups altogether have contributed to the increase in real GDP in the second quarter of 2015.
Construction Real Value Added—a measure of an industry’s contribution to GDP— increased 9.8% in the second quarter, after increasing 1.4% in the first quarter. The increase in Construction beat many other industries including Mining, Wholesale trade, and Professional, scientific, and technical services, by 27.7%, 1.4%, and 2.2%, respectively.
Construction Real Gross Output— a measure of an industry’s sales, including both GDP and intermediate inputs—increased 23.5% in the second quarter, following a 5.7% increase in an earlier quarter in 2015. This was the eighth increase in the past nine quarters.
The BEA also released a latest revised dataset of industry’s
annual contribution to GDP (up to full year 2014), along with the quarterly
result. Below is an interactive graphic we’ve made to track the changes in the
past 10 years.
