Housing accounted for 15.31% of the nation's GDP in the second quarter of 2015, reports National Association of Home Builders economics department analyst Na Zhao. Of that total, 3.21% was from home building and remodeling.
Considering both residential and non-residential construction, the Bureau of Economic Analysis states that construction made up 3.77% of 2014's economic output. North Dakota was the state with the highest construction share of gross state product, contributing 5.87%. No. 2 was Louisiana (5.61%), followed by Hawaii (5.50%), Montana (5.37%), and Utah (5.17%).
The BEA data also highlights the state-by-state changes in the construction share of gross state output from 2013 to 2014. States with the largest gains in year-over-year share of construction in gross state output, in percentage terms, were Iowa (10.06% growth in share), Alaska (8.58%), Louisiana (7.11%), Nevada (6.75%), and Colorado (6.55%). State economic growth, including that for construction, has been driven by energy sector growth in recent years.