Gross Total Construction, Including Oil and Gas Well Drilling for United States
A02147USA398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,153.00
Year-over-Year Change
422.12%
Date Range
1/1/1889 - 1/1/1955
Summary
This economic indicator tracks total construction spending in the United States, including residential, nonresidential, and oil and gas well drilling. It provides insights into the overall health and activity of the construction sector, which is a key driver of economic growth.
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 Gross Total Construction indicator measures the total value of all construction activity in the U.S., including private and public sector projects. It is a broad measure that encompasses residential, nonresidential, and infrastructure construction, as well as oil and gas well drilling. This indicator is closely watched by economists and policymakers to assess the state of the construction industry and broader economic conditions.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of construction industry participants.
Historical Context
This metric is used by government agencies, financial institutions, and economic analysts to monitor trends in construction activity and inform policy decisions.
Key Facts
- Construction is a major component of GDP, accounting for around 4% of total U.S. economic output.
- The construction industry employs over 7 million workers in the United States.
- Trends in construction activity are closely tied to the business cycle and housing market conditions.
FAQs
Q: What does this economic trend measure?
A: The Gross Total Construction indicator measures the total value of all construction activity in the United States, including residential, nonresidential, and infrastructure projects, as well as oil and gas well drilling.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall health and activity of the construction sector, which is a key driver of economic growth. It is closely watched by economists, policymakers, and market analysts to assess broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of construction industry participants.
Q: How is this trend used in economic policy?
A: This indicator is used by government agencies, financial institutions, and economic analysts to monitor trends in construction activity and inform policy decisions, such as those related to infrastructure investment, housing market regulation, and macroeconomic stimulus measures.
Q: Are there update delays or limitations?
A: There may be some delays in the release of the Gross Total Construction data, as it is compiled from survey responses. Additionally, the data may not capture all construction activity, particularly in the informal or unregulated sectors.
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Citation
U.S. Federal Reserve, Gross Total Construction, Including Oil and Gas Well Drilling for United States (A02147USA398NNBR), retrieved from FRED.