Sources: Associated Builders & Contractors, Washington, D.C.; CP staff
Weighing new Bureau of Economic Analysis (BEA) data, ABC reports that nonresidential fixed investment—a gross domestic product category embodying nonresidential construction activity—expanded at a seasonally adjusted rate of 5.2 percent in the second quarter, following a 7.2 percent jump in Q1. The expansion contributed more than 0.6 percentage point to GDP growth, due in large measure to increased construction equipment investment. The other two nonresidential fixed investment components—structures and intellectual property—also expanded, but at a slower pace.
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