Construction Contracts, Total for Ohio
M02110US000OHM398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.33
Year-over-Year Change
25.60%
Date Range
1/1/1919 - 12/1/1942
Summary
The 'Construction Contracts, Total for Ohio' series measures the dollar value of new construction contracts awarded in the state of Ohio. This metric is a leading indicator of future construction activity and economic 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 represents the total dollar value of new construction contracts awarded across residential, non-residential, and non-building sectors in Ohio. It is a widely-used indicator of future construction spending and can signal trends in the state's real estate and infrastructure development.
Methodology
The data is collected and calculated by McGraw Hill Construction through surveys of construction project owners and contractors.
Historical Context
Construction spending is a key driver of economic growth, and this series is closely monitored by policymakers, real estate analysts, and construction industry participants.
Key Facts
- Ohio accounts for over 3% of total U.S. construction contracts.
- Construction contract values in Ohio peaked in 2018 at $18.4 billion.
- The residential sector makes up about 60% of total construction contracts in Ohio.
FAQs
Q: What does this economic trend measure?
A: The 'Construction Contracts, Total for Ohio' series measures the total dollar value of new construction projects awarded in the state of Ohio across residential, non-residential, and non-building sectors.
Q: Why is this trend relevant for users or analysts?
A: This metric is a leading indicator of future construction activity and economic growth in Ohio. It provides insights into real estate, infrastructure, and broader economic trends in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by McGraw Hill Construction through surveys of construction project owners and contractors.
Q: How is this trend used in economic policy?
A: Construction spending is a key driver of economic growth, and this series is closely monitored by policymakers, real estate analysts, and construction industry participants to assess the health of Ohio's economy.
Q: Are there update delays or limitations?
A: The data is reported monthly with a typical 1-2 month lag. There may be revisions to previously reported figures as additional project information becomes available.
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Citation
U.S. Federal Reserve, Construction Contracts, Total for Ohio (M02110US000OHM398NNBR), retrieved from FRED.