The Construction Sector in the U.S. Economy

Description

The construction sector is a major component of the U.S. economy. During the past decade, construction was a prime beneficiary of low interest rates and the housing-led economic boom, but was also one of the largest casualties of the subsequent financial crisis. Construction spending comprised about 7%-8% of U.S. annual economic output from 1995 to mid-2000, reaching nearly 9% of gross domestic product at the peak of the housing run-up in 2006, before declining to about 5% in 2010. Likewise, construction employment ranged from a low of about 4.6 million during the early 1990s to a high of 7.7 million … continued below

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19 pages.

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Kirchhoff, Suzanne M. May 3, 2011.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by the UNT Libraries Government Documents Department to the UNT Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 194 times. More information about this report can be viewed below.

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Description

The construction sector is a major component of the U.S. economy. During the past decade, construction was a prime beneficiary of low interest rates and the housing-led economic boom, but was also one of the largest casualties of the subsequent financial crisis. Construction spending comprised about 7%-8% of U.S. annual economic output from 1995 to mid-2000, reaching nearly 9% of gross domestic product at the peak of the housing run-up in 2006, before declining to about 5% in 2010. Likewise, construction employment ranged from a low of about 4.6 million during the early 1990s to a high of 7.7 million during the 2006 housing boom, and was about 5.5 million in early 2011.

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19 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.

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  • May 3, 2011

Added to The UNT Digital Library

  • Aug. 27, 2011, 10:13 a.m.

Description Last Updated

  • Aug. 10, 2015, 9:56 p.m.

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Kirchhoff, Suzanne M. The Construction Sector in the U.S. Economy, report, May 3, 2011; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc40151/: accessed November 30, 2021), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.

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