Chain-Type Quantity Index for Real GDP: Construction (23) in Connecticut
Quarterly, Seasonally Adjusted
CTCONSTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.59
Year-over-Year Change
-7.76%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted series measures inflation-adjusted construction spending for the U.S. construction industry. It is a key indicator of economic activity and 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
This series tracks changes in the total value of construction put in place over time, adjusted for seasonal variations and inflation. It is a widely followed metric that provides insight into investment, employment, and overall economic conditions.
Methodology
The data is collected through surveys of construction firms and contractors by the U.S. Census Bureau.
Historical Context
The construction sector is a major driver of the U.S. economy, so this trend is closely monitored by policymakers, analysts, and investors.
Key Facts
- Construction spending accounts for over 4% of U.S. GDP.
- The construction industry employs over 7 million workers.
- Housing construction makes up nearly 40% of total construction activity.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of construction projects completed in the U.S. on a quarterly basis, adjusted for seasonal variations and inflation.
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a significant driver of economic growth, so this metric provides important insights into investment, employment, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and contractors by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and investors closely monitor this trend to assess the health of the construction sector and broader economy, and to inform decisions on economic policy, investment, and market strategies.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical delay of 1-2 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted (CTCONSTQQGSP), retrieved from FRED.