Work Started: Construction: Dwellings and Residential Buildings: Total for Canada
CANWSCNDW01GPSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-21.91
Year-over-Year Change
4647.27%
Date Range
1/1/1960 - 11/1/2023
Summary
The 'Work Started: Construction: Dwellings and Residential Buildings: Total for Canada' trend measures the volume of new residential construction projects initiated in Canada. This indicator provides insight into housing market activity and broader economic conditions.
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 series tracks the total number of residential construction projects, including single-family homes, multi-unit dwellings, and other residential buildings, that have begun construction in Canada. It is a leading indicator used by economists and policymakers to gauge momentum in the housing sector and broader economic performance.
Methodology
The data is collected through surveys of construction firms and developers across Canada.
Historical Context
Policymakers and market analysts closely monitor this indicator to assess the health of the Canadian housing market and make informed decisions.
Key Facts
- Canada's residential construction sector accounts for over 6% of GDP.
- New residential projects create jobs in construction, manufacturing, and related industries.
- Trend data is released monthly by Statistics Canada.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of new residential construction projects, including single-family homes and multi-unit dwellings, that have begun construction in Canada.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into housing market activity and broader economic conditions, making it a key metric monitored by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and developers across Canada.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this indicator to assess the health of the Canadian housing market and make informed decisions.
Q: Are there update delays or limitations?
A: The trend data is released monthly by Statistics Canada with a short delay.
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Citation
U.S. Federal Reserve, Work Started: Construction: Dwellings and Residential Buildings: Total for Canada (CANWSCNDW01GPSAM), retrieved from FRED.