A report release November 27 by Associated Builders and Contractors (ABC) shows the private construction industry's value as a percentage of the nations’ real GDP rose to 4 in 2016, the highest it’s been since 2009. So reports Building Design + Construction.
There also was a rise of 3.5% in annual growth in real construction spending (slower than the 4.9% increase in 2015). Still, 37 states benefited from these increases in construction activity while 13 states saw a reduction in activity.
Increases in activity adds to the income and potential growth of each state whereas a decline in activity creates a lag in a state’s economy. The top 5 states for construction spending in 2016 were: