Production, Sales, Work Started and Orders: Permits Issued for Dwellings: Economic Activity: Construction of Buildings for Australia
AUSPERMITMISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.78
Year-over-Year Change
-10.50%
Date Range
1/1/1955 - 3/1/2024
Summary
This economic trend measures the number of permits issued for the construction of new buildings in Australia, providing insights into the level of activity in the construction sector.
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 permits issued for dwellings trend is a key indicator of construction activity and economic growth in Australia. It tracks the number of permits approved for the construction of new residential and commercial buildings, serving as a leading indicator of future construction and development.
Methodology
The data is collected by the Australian Bureau of Statistics through surveys of construction companies and building permit authorities.
Historical Context
Economists and policymakers use this metric to assess the health of the Australian construction industry and broader economic conditions.
Key Facts
- Australia issued over 240,000 building permits in 2022.
- The construction industry accounts for 7.5% of Australia's GDP.
- Residential building permits make up the majority of permits issued.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of building permits issued for the construction of new residential and commercial buildings in Australia.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of construction activity and economic growth in Australia, providing insights into future development and investment.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through surveys of construction companies and building permit authorities.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the health of the Australian construction industry and broader economic conditions, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a short delay to allow for data collection and processing.
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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 (AUSPERMITMISMEI), retrieved from FRED.