The U.S. economy expanded at a 6.5% annualized rate in the second quarter of 2021, pushing overall gross domestic product above pre-pandemic levels. Investment in nonresidential structures, however, declined 7% for the quarter and has now contracted in six of the past seven quarters, according to an analysis by Associated Builders and Contractors of data released by the U.S. Bureau of Economic Analysis. The overall growth in GDP was almost entirely driven by increases in personal consumption expenditures, with sales of goods increasing by 11.6% and sales of services by 12%. “Today’s GDP report was terrific by normal standards, but … Read more