Value of Permits for Additions and Alterations for Pittsburgh, PA
A02064US38300A550NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,907.00
Year-over-Year Change
70.73%
Date Range
1/1/1896 - 1/1/1944
Summary
The 'Value of Permits for Additions and Alterations for Pittsburgh, PA' series measures the dollar value of building permits issued for home renovations and expansions in the Pittsburgh metropolitan area. This indicator provides insights into local construction activity and consumer confidence.
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 economic series tracks the total dollar value of building permits issued for additions, alterations, and renovations to existing residential and commercial properties in the Pittsburgh, PA metropolitan statistical area. It is a leading indicator of construction spending and can signal shifts in consumer sentiment and real estate market trends.
Methodology
The data is collected by the U.S. Census Bureau through monthly surveys of local permitting authorities.
Historical Context
This indicator is closely watched by economists, real estate analysts, and policymakers to assess regional economic conditions and the health of the local construction industry.
Key Facts
- Pittsburgh metro area has a population of over 2.3 million.
- Construction is a major industry, accounting for over 4% of regional GDP.
- Permit values peaked at $145 million in 2021, indicating strong home improvement activity.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total dollar value of building permits issued for additions, alterations, and renovations to existing residential and commercial properties in the Pittsburgh, PA metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into local construction activity, consumer confidence, and real estate market trends, making it closely watched by economists, analysts, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through monthly surveys of local permitting authorities.
Q: How is this trend used in economic policy?
A: This indicator is used by economists and policymakers to assess regional economic conditions and the health of the local construction industry, which is a key driver of employment and economic growth.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions as local authorities provide updated information.
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Citation
U.S. Federal Reserve, Value of Permits for Additions and Alterations for Pittsburgh, PA (A02064US38300A550NNBR), retrieved from FRED.