Dwellings and Residential Buildings Permits Issued for Construction for the European Union
ODCNPI03EUQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.83
Year-over-Year Change
-79.62%
Date Range
1/1/1996 - 10/1/2019
Summary
This economic trend measures the number of dwelling and residential building permits issued for construction in the European Union. It serves as an important indicator of future construction activity and housing market conditions.
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 Dwellings and Residential Buildings Permits Issued for Construction for the European Union tracks the number of permits authorized for new residential construction projects across the EU. This data point helps economists and policymakers assess the strength of the housing market and anticipate future trends in construction.
Methodology
The data is collected through surveys of national statistical agencies and compiled by Eurostat, the EU's statistical office.
Historical Context
This indicator is closely watched by analysts to gauge the health of the European construction industry and broader economic conditions.
Key Facts
- Permits issued are a leading indicator of future construction activity.
- EU residential permits declined sharply during the 2008 financial crisis.
- Permit data is published monthly by Eurostat.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of dwelling and residential building permits issued for construction across the European Union. It serves as an indicator of future housing and construction activity.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the health and direction of the European housing and construction markets, which are important drivers of overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of national statistical agencies and compiled by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this indicator to assess the state of the construction industry and broader economic conditions, which can inform decisions on monetary, fiscal, and housing policies.
Q: Are there update delays or limitations?
A: The data is published monthly by Eurostat, with a typical 1-2 month delay between the end of the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Dwellings and Residential Buildings Permits Issued for Construction for the European Union (ODCNPI03EUQ659S), retrieved from FRED.