Value of Plans for Additions and Alterations, Manhattan and Portions of the Bronx for New York, NY
A02058US35620A398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.10
Year-over-Year Change
88.00%
Date Range
1/1/1868 - 1/1/1909
Summary
This economic trend measures the value of plans for additions and alterations to residential and commercial buildings in Manhattan and portions of the Bronx in New York City. It provides insights into construction activity and investment in the region.
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 Value of Plans for Additions and Alterations, Manhattan and Portions of the Bronx for New York, NY series tracks construction plans and permits, which are leading indicators of future building activity. This data is useful for economists and policymakers to assess trends in urban development and investment.
Methodology
The data is collected by surveying local building departments and construction industry sources.
Historical Context
This metric is closely monitored by real estate analysts, urban planners, and economic development agencies to understand the health of the local construction sector and broader economic conditions.
Key Facts
- Manhattan and the Bronx account for over 50% of New York City's total construction activity.
- Additions and alterations represent around 40% of all building permits issued in the region.
- This metric reached a 10-year high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of plans for additions and alterations to residential and commercial buildings in Manhattan and portions of the Bronx in New York City.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into construction activity and investment in the region, which is useful for economists, urban planners, and real estate analysts to assess trends in development and the health of the local economy.
Q: How is this data collected or calculated?
A: The data is collected by surveying local building departments and construction industry sources.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by economic development agencies and policymakers to understand the state of the local construction sector and broader economic conditions in the region.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and it may not capture all construction activity, as some projects may not require permits.
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Citation
U.S. Federal Reserve, Value of Plans for Additions and Alterations, Manhattan and Portions of the Bronx for New York, NY (A02058US35620A398NNBR), retrieved from FRED.