Real Gross Domestic Product: Construction (23) in Connecticut
Annual, Not Seasonally Adjusted
CTCONSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,888.60
Year-over-Year Change
-14.20%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the total value of construction put in place in the United States on an annual basis. This metric is a key economic indicator for the construction industry and broader economic activity.
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 CTCONSTRGSP series tracks the total dollar value of all construction work completed in the U.S. over a 12-month period. It provides an overview of the construction sector's performance and is used by economists and policymakers to analyze trends in economic growth and investment.
Methodology
The data is collected through surveys of construction companies and building permits.
Historical Context
This metric helps inform decisions on infrastructure spending, housing policy, and monetary policy.
Key Facts
- Construction spending reached a record high of over $1.6 trillion in 2022.
- The residential sector accounts for over 60% of total construction value.
- Annual construction growth has averaged 3.5% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the total dollar value of all construction work completed in the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a comprehensive overview of the construction sector's performance and is used by economists and policymakers to analyze trends in economic growth, investment, and the housing market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction companies and building permits.
Q: How is this trend used in economic policy?
A: This construction spending data helps inform decisions on infrastructure investment, housing policy, and monetary policy.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis, with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (CTCONSTRGSP), retrieved from FRED.