Production, Sales, Work Started and Orders: Permits Issued for Dwellings: Economic Activity: Construction of Buildings for Canada
CANPERMITAISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
154.76
Year-over-Year Change
85.62%
Date Range
1/1/1948 - 1/1/2023
Summary
This economic trend measures the number of permits issued for the construction of buildings in Canada, providing insight into the level of construction activity and 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 'Production, Sales, Work Started and Orders: Permits Issued for Dwellings: Economic Activity: Construction of Buildings for Canada' series tracks the total number of building permits issued in Canada, a key indicator of future construction activity and overall economic conditions.
Methodology
The data is collected by Statistics Canada through surveys of municipal building permit offices.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess the health of the Canadian construction and housing sectors.
Key Facts
- Building permits are a leading indicator of future construction.
- Canada issued over 275,000 building permits in 2022.
- The construction sector accounts for over 7% of Canada's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of building permits issued for the construction of new buildings in Canada, providing insights into future construction activity and economic growth.
Q: Why is this trend relevant for users or analysts?
A: The number of building permits issued is a key indicator of the health of the construction and housing sectors, which are important drivers of economic growth in Canada.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Canada through surveys of municipal building permit offices across the country.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this trend to assess the state of the Canadian economy and inform decisions on economic policy, interest rates, and investment strategies.
Q: Are there update delays or limitations?
A: The building permit data is released monthly by Statistics Canada, with a typical lag of 1-2 months between the reference period and the publication of the data.
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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 Canada (CANPERMITAISMEI), retrieved from FRED.