Work Started: Construction: Dwellings and Residential Buildings: Total for Canada
WSCNDW01CAA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-4.08
Year-over-Year Change
-113.83%
Date Range
1/1/1960 - 1/1/2022
Summary
The 'Work Started: Construction: Dwellings and Residential Buildings: Total for Canada' trend measures the number of new residential construction projects started in Canada. This statistic is a leading indicator of economic 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
This series tracks the number of new residential construction projects, including single-family homes, multi-unit buildings, and major renovations, that have begun in Canada. It is an important gauge of housing demand, construction industry health, and broader economic trends.
Methodology
The data is collected through surveys of construction firms and project managers across Canada.
Historical Context
Policymakers and analysts use this metric to assess the strength of the Canadian housing and construction sectors.
Key Facts
- Residential construction is a key driver of economic growth in Canada.
- The trend has fluctuated significantly in recent years due to changes in housing demand.
- Analysts monitor this data to gauge the health of the Canadian housing market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of new residential construction projects, including single-family homes and multi-unit buildings, that have started in Canada.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important leading indicator of housing demand, construction industry activity, and broader economic conditions in Canada.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and project managers across Canada.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of the Canadian housing and construction sectors, which are key drivers of economic growth.
Q: Are there update delays or limitations?
A: The data is typically released with a short delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Work Started: Construction: Dwellings and Residential Buildings: Total for Canada (WSCNDW01CAA657S), retrieved from FRED.