Final estimates of fourth-quarter 2016 gross domestic product (GDP) growth (revised up two-tenths of a percentage point to 2.1 percent), show that housing’s share of GDP was unchanged at 15.6 percent, according to NAHB. The home building and remodeling component—residential fixed investment (RFI)—also held steady at 3.5 percent as a share of GDP. However, the fourth-quarter expansion of RFI added 0.35 percentage points to the headline GDP growth rate. RFI has added an average 0.25 percentage points to quarterly GDP growth since 2012.
Industrial construction applied in state-of-the-art, vertically integrated manufacturing facilities is the future of the built environment