Gross Domestic Product: Construction (23) in Maryland
Quarterly, Seasonally Adjusted Annual Rate
MDCONSTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,643.90
Year-over-Year Change
14.14%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (SAAR) measures the total value of new construction projects started in the U.S. each quarter. This key economic indicator provides insight into the health and activity of the construction industry.
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 Quarterly, Seasonally Adjusted Annual Rate tracks the market volume of new construction projects, including residential, commercial, and infrastructure development. It is a widely used metric for evaluating the construction sector's contribution to overall economic growth.
Methodology
The data is collected through surveys of construction firms and compiled by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by policymakers, investors, and economists to gauge business investment and make informed decisions.
Key Facts
- The construction industry accounts for over 4% of U.S. GDP.
- Residential construction makes up about 60% of total construction spending.
- The SAAR reached an all-time high of $1.8 trillion in January 2022.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate measures the total value of new construction projects started in the U.S. each quarter, including residential, commercial, and infrastructure development.
Q: Why is this trend relevant for users or analysts?
A: This key economic indicator provides insight into the health and activity of the construction industry, which is a crucial driver of overall economic growth. It is closely monitored by policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and compiled by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and economists use this trend to gauge business investment and make informed decisions about the state of the economy and construction sector.
Q: Are there update delays or limitations?
A: The data is released monthly with a delay of around 1-2 months. There may be revisions to previous estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (MDCONSTNQGSP), retrieved from FRED.