Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Ireland
ODCNPI03IEQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
296.30
Year-over-Year Change
-22.60%
Date Range
1/1/1975 - 7/1/2023
Summary
This economic indicator tracks the number of construction permits issued for dwellings and residential buildings in Ireland. It serves as a leading indicator of future construction activity and investment.
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 Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Ireland measures the volume of new residential construction projects that have been approved for development. This metric is closely watched by economists and policymakers as it provides insights into the health of the Irish housing market and broader economy.
Methodology
The data is collected by the Irish government through building permit applications and approvals.
Historical Context
Construction permit trends are used to forecast future residential investment, household formation, and related economic activity.
Key Facts
- Construction permits issued in Ireland reached a peak in 2006.
- Permit volumes declined sharply during the 2008-2009 financial crisis.
- Permits have gradually recovered but remain below pre-recession levels.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of new construction permits issued for dwellings and residential buildings in Ireland.
Q: Why is this trend relevant for users or analysts?
A: Construction permit data is a leading indicator of future residential investment and construction activity, providing insights into the health of the Irish housing market and broader economy.
Q: How is this data collected or calculated?
A: The data is collected by the Irish government through building permit applications and approvals.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor construction permit trends to forecast future residential investment, household formation, and related economic activity.
Q: Are there update delays or limitations?
A: The data is subject to typical government data collection and reporting timelines, which may result in modest publication delays.
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Citation
U.S. Federal Reserve, Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Ireland (ODCNPI03IEQ661N), retrieved from FRED.