Gross Domestic Product: Construction (23) in Connecticut
CTCONSTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,402.10
Year-over-Year Change
16.13%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Construction (23) in Connecticut tracks the value-added output of the construction industry in the state. This metric is important for analyzing economic growth and investment trends.
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 measures the inflation-adjusted, seasonally-adjusted value added by the construction industry in Connecticut's gross domestic product. It provides insight into the overall health and performance of the state's construction sector, which is a key component of economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the construction industry's contribution to Connecticut's economic growth and development.
Key Facts
- Connecticut's construction GDP reached a high of $10.9 billion in 2020.
- The construction industry accounts for about 4% of Connecticut's total GDP.
- Construction GDP in Connecticut has grown by an average of 2.3% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted, seasonally-adjusted value added by the construction industry to Connecticut's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall health and performance of Connecticut's construction sector, which is a key driver of economic activity and investment in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the construction industry's contribution to Connecticut's economic growth and development, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Construction (23) in Connecticut (CTCONSTNQGSP), retrieved from FRED.