Work Started: Construction: Dwellings and Residential Buildings: Total for Australia
WSCNDW01AUQ189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,045.00
Year-over-Year Change
-4.88%
Date Range
1/1/1960 - 4/1/2023
Summary
The 'Work Started: Construction: Dwellings and Residential Buildings: Total for Australia' trend measures the volume of new construction projects for residential buildings and dwellings in Australia. This key economic indicator provides insights into the health of the Australian housing and construction sectors.
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
This series tracks the total volume of construction work started on new residential buildings and dwellings in Australia. It is a leading indicator of activity in the housing and construction industries, which are major drivers of the Australian economy.
Methodology
The data is collected through surveys of construction firms and projects by the Australian Bureau of Statistics.
Historical Context
Policymakers and analysts use this metric to assess the state of the Australian housing market and make informed decisions about economic and housing policies.
Key Facts
- Australia is one of the world's largest construction markets.
- Residential construction accounts for over 50% of total construction in Australia.
- The construction industry employs over 1 million Australians.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total volume of new construction projects for residential buildings and dwellings in Australia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and direction of the Australian housing and construction sectors, which are key drivers of the country's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and projects by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the state of the Australian housing market and make informed decisions about economic and housing policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Australian Bureau of Statistics, with typical update delays of 1-2 months.
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Citation
U.S. Federal Reserve, Work Started: Construction: Dwellings and Residential Buildings: Total for Australia (WSCNDW01AUQ189N), retrieved from FRED.