Gross Domestic Product: Construction (23) in Oregon
ORCONSTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,124.20
Year-over-Year Change
17.64%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the construction component of Gross Domestic Product (GDP) in the state of Oregon. It provides insights into the health and performance of the construction industry, a key driver of 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 Gross Domestic Product: Construction (23) in Oregon series tracks the value-added output of the construction sector, including residential, commercial, and infrastructure projects. This data is used by economists and policymakers to analyze regional economic conditions and monitor the construction industry's contribution to the state's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using proprietary methods and surveys.
Historical Context
This trend is closely watched by real estate developers, construction firms, and state and local governments to inform investment decisions and policy actions.
Key Facts
- Oregon's construction GDP was $13.2 billion in 2021.
- Construction contributed 4.7% to Oregon's total GDP in 2021.
- The construction industry employs over 105,000 workers in Oregon.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value-added output of the construction sector, including residential, commercial, and infrastructure projects, in the state of Oregon.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and performance of the construction industry, a key driver of economic activity in Oregon. It is used by economists, policymakers, and industry stakeholders to analyze regional economic conditions and inform investment and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using proprietary methods and surveys.
Q: How is this trend used in economic policy?
A: This trend is closely watched by real estate developers, construction firms, and state and local governments to inform investment decisions and policy actions related to the construction industry and regional economic development.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the Bureau of Economic Analysis, and there may be lags in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Construction (23) in Oregon (ORCONSTNQGSP), retrieved from FRED.