Production, Sales, Work Started and Orders: Construction Work Started on Dwellings: Economic Activity: Construction of Buildings for Australia
WSCNDW01AUQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.85
Year-over-Year Change
-25.73%
Date Range
7/1/1965 - 10/1/2023
Summary
This economic trend measures the volume of construction work started on dwellings in Australia, providing insights into the level of building activity and investment in the residential construction sector.
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 Construction Work Started on Dwellings metric tracks the value of new construction projects commenced for residential buildings in Australia. It is a key indicator of housing market activity and investment, reflecting builder and developer confidence in the economy.
Methodology
The data is collected through a survey of construction businesses and contractors across Australia.
Historical Context
This trend is closely monitored by policymakers, housing analysts, and economic forecasters to assess the health of the construction industry and broader economic conditions.
Key Facts
- Construction work started on dwellings is a leading indicator of future housing supply.
- Australia's residential construction sector accounts for a significant portion of GDP.
- Dwelling construction data helps policymakers assess the effectiveness of housing policies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of new construction projects commenced for residential buildings in Australia, providing insights into housing market activity and investment.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, housing analysts, and economic forecasters to assess the health of the construction industry and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through a survey of construction businesses and contractors across Australia.
Q: How is this trend used in economic policy?
A: Dwelling construction data helps policymakers evaluate the effectiveness of housing policies and monitor the broader economic environment.
Q: Are there update delays or limitations?
A: The data may be subject to revisions and may not be available in real-time, reflecting the time required to collect and process the survey information.
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Citation
U.S. Federal Reserve, Production, Sales, Work Started and Orders: Construction Work Started on Dwellings: Economic Activity: Construction of Buildings for Australia (WSCNDW01AUQ661S), retrieved from FRED.