Gross Domestic Product: Construction (23) in Iowa
Annual, Not Seasonally Adjusted
IACONSTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,274.70
Year-over-Year Change
109.07%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the total value of construction put in place each year without adjusting for seasonal variations. It provides an overview of construction activity and investment in the U.S. economy.
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 annual construction spending metric tracks the total value of public and private construction projects, including residential, commercial, and infrastructure investments. It is a key indicator of economic growth and construction industry performance.
Methodology
The data is collected through surveys of construction firms and government agencies to determine the total value of construction work completed each year.
Historical Context
Policymakers and analysts use this metric to assess the health of the construction sector and broader economic conditions.
Key Facts
- Annual construction spending reached $1.58 trillion in 2021.
- Private construction accounted for 71% of total spending in 2021.
- Residential construction has seen strong growth in recent years.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the total value of construction projects completed each year in the United States, without adjusting for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall health and investment levels of the construction industry, which is a key driver of economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and government agencies to determine the total value of construction work completed each year.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of the construction sector and broader economic conditions, which can inform policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The annual, not seasonally adjusted construction spending data is typically released with a 2-3 month delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (IACONSTNGSP), retrieved from FRED.