Production, Sales, Work Started and Orders: Permits Issued for Dwellings: Economic Activity: Construction of Buildings for Australia
AUSPERMITAISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.96
Year-over-Year Change
5.81%
Date Range
1/1/1955 - 1/1/2023
Summary
This economic trend measures the number of permits issued for the construction of new buildings in Australia, providing insights into the country's construction and real estate activity.
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 'Production, Sales, Work Started and Orders: Permits Issued for Dwellings: Economic Activity: Construction of Buildings for Australia' trend represents a key indicator of the health and trajectory of the Australian construction industry. It is widely used by economists, policymakers, and real estate analysts to assess the state of the country's housing market and broader economic conditions.
Methodology
The data is collected and reported by the Australian Bureau of Statistics.
Historical Context
This trend is closely monitored by the Reserve Bank of Australia and other government agencies to inform economic policy decisions.
Key Facts
- Australia issued over 200,000 construction permits in 2022.
- Building permits are a leading indicator of future construction activity.
- The construction industry accounts for approximately 8% of Australia's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of permits issued for the construction of new buildings in Australia, providing insights into the country's construction and real estate activity.
Q: Why is this trend relevant for users or analysts?
A: The permits issued trend is a key indicator of the health and trajectory of the Australian construction industry, which is closely watched by economists, policymakers, and real estate analysts to assess the state of the housing market and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Reserve Bank of Australia and other government agencies to inform economic policy decisions related to the housing market and broader construction industry.
Q: Are there update delays or limitations?
A: The data is reported on a regular schedule by the Australian Bureau of Statistics, with occasional delays or revisions that users should be aware of.
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Citation
U.S. Federal Reserve, Production, Sales, Work Started and Orders: Permits Issued for Dwellings: Economic Activity: Construction of Buildings for Australia (AUSPERMITAISMEI), retrieved from FRED.