The construction industry is a sector of the economy that comprises businesses and organizations engaged in the construction of buildings, infrastructure, and other facilities. The construction industry is a major contributor to the economy, accounting for a significant share of gross domestic product (GDP) and employment in many countries. In developed economies, the construction industry is typically responsible for a large share of investment spending. The construction industry has also been an important driver of economic growth in emerging economies. Construction activity is often Cyclical, with periods of high activity followed by periods of lower activity. The construction industry is also subject to stringent regulation in many jurisdictions.