Chain-Type Quantity Index for Real GDP: Construction (23) in Florida
Annual, Not Seasonally Adjusted
FLCONSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.28
Year-over-Year Change
81.84%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the value of construction spending for private and public projects in the United States. It is a key economic indicator used to assess construction activity and investment.
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 value of construction projects completed in the U.S. over a 12-month period. It includes residential, commercial, and infrastructure construction by both private and public entities. Economists closely monitor construction spending to gauge overall economic health and investment.
Methodology
The data is collected through surveys of construction firms and government agencies by the U.S. Census Bureau.
Historical Context
Construction spending is a leading indicator used by policymakers and analysts to forecast economic growth and guide decisions on interest rates, taxes, and infrastructure investment.
Key Facts
- Construction spending accounts for over 4% of U.S. GDP.
- Residential construction makes up about 60% of total construction spending.
- Construction employment directly supports over 7 million U.S. jobs.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the total value of construction projects completed in the U.S. over a 12-month period, including residential, commercial, and infrastructure construction.
Q: Why is this trend relevant for users or analysts?
A: Construction spending is a leading economic indicator that provides insights into investment, job creation, and overall economic health. It is closely monitored by policymakers, investors, and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and government agencies by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Construction spending is used by policymakers and analysts to forecast economic growth and guide decisions on interest rates, taxes, and infrastructure investment.
Q: Are there update delays or limitations?
A: The construction spending data is released monthly by the U.S. Census Bureau, with a typical one-month lag between the reference period and the publication date.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (FLCONSTQGSP), retrieved from FRED.