HOUSING INVESTMENT

Residential Fixed Investment and Gross Domestic Product*

Residential Fixed Investment (RFI) for the second quarter of 1998 was at a seasonally adjusted annual rate of $361.6 billion, 3 percent above the value from the first quarter of 1998 and 11 percent above the second quarter of 1997. As a percentage of the Gross Domestic Product, RFI was 4.3 percent, 0.1 percentage point above the previous quarter and 0.3 percentage point above a year ago.

*Billions of dollars. Source: Bureau of Economic Analysis, Department of Commerce