Real Gross Domestic Product: Construction (23) in Connecticut
CTCONSTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,761.70
Year-over-Year Change
-7.76%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the construction industry in the state of Connecticut. It is an important indicator for understanding the health and dynamics of the state's construction sector 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
The Real Gross Domestic Product: Construction (23) in Connecticut trend represents the inflation-adjusted value added by the construction industry to the state's overall economic output. It provides insights into the performance and productivity of this key sector, which is closely tied to factors like housing, infrastructure, and business investment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting principles.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to gauge Connecticut's economic trajectory and inform decision-making.
Key Facts
- Connecticut's construction GDP accounts for around 4% of the state's total economic output.
- The construction industry employs over 60,000 workers in Connecticut.
- Real construction GDP in Connecticut has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the construction industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a key driver of economic activity, so this metric provides important insights into the health and dynamics of Connecticut's broader economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this metric to gauge Connecticut's economic trajectory and inform decision-making.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent economic conditions.
Related Trends
All Employees: Full-Service Restaurants in Connecticut
SMU09000007072251101A
90% Confidence Interval Lower Bound of Estimate of People of All Ages in Poverty for Connecticut
PECILBAACT09000A647NCEN
All Employees: Private Service Providing in Connecticut
SMU09000000800000001
Average Hourly Earnings of All Employees: Professional and Business Services in Connecticut
SMU09000006000000003
Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Connecticut
CTMVEHMANQGSP
Gross Domestic Product: Information (51) in Connecticut
CTINFONQGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Construction (23) in Connecticut (CTCONSTRQGSP), retrieved from FRED.