|Construction as Percent of GDP, 2005-2011|
While investment in non-residential structures increased by 8.1 percent in the last quarter, it did not come close to offsetting the 14.3 percent decline in the first quarter. As a result of overbuilding from the bubble, non-residential construction is down by 1.6 percentage points of GDP from its prior peak. Similarly, residential construction is down by almost 4 percentage points from its bubble peak.
For more, check out our latest GDP Byte.