Value of Permits for Commercial and Industrial Buildings for Philadelphia, PA
A02057US37980A398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.61
Year-over-Year Change
-95.80%
Date Range
1/1/1890 - 1/1/1935
Summary
This economic trend measures the value of permits issued for new commercial and industrial building construction in the Philadelphia, PA metropolitan area. It provides insight into local business investment and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Value of Permits for Commercial and Industrial Buildings metric tracks the total dollar value of permits issued for new commercial and industrial construction projects in the Philadelphia metro area. This indicator offers a forward-looking view of expected commercial and industrial investment and development in the region.
Methodology
The data is collected by state and local governments and reported to the U.S. Census Bureau.
Historical Context
Economists and policymakers monitor this indicator to assess the health of the local commercial real estate market and broader economic conditions.
Key Facts
- Philadelphia metro area construction permits peaked in 2019.
- Commercial permit values declined during the COVID-19 pandemic.
- Industrial permits have trended higher since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of permits issued for new commercial and industrial building construction projects in the Philadelphia, PA metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into local business investment and economic activity, making it useful for economists and policymakers assessing the health of the regional commercial real estate market and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by state and local governments and reported to the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this indicator to assess the strength of the local commercial real estate market and broader economic conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to revisions and may have a reporting lag of several months.
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Citation
U.S. Federal Reserve, Value of Permits for Commercial and Industrial Buildings for Philadelphia, PA (A02057US37980A398NNBR), retrieved from FRED.