Chain-Type Quantity Index for Real GDP: Construction (23) in Mississippi
Annual, Not Seasonally Adjusted
MSCONSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.80
Year-over-Year Change
-28.09%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the quarterly value of new residential construction put in place in the United States. It is a key indicator of housing and 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
This series represents the total value of new residential construction, including single-family homes, multifamily structures, and improvements. It is published quarterly by the U.S. Census Bureau and is a widely tracked metric for monitoring the health of the housing sector.
Methodology
The data is collected through surveys of construction firms and homeowners.
Historical Context
Policymakers and analysts use this metric to gauge the strength of the housing market and broader economic conditions.
Key Facts
- New residential construction was valued at over $800 billion in 2022.
- The series reached a peak in 2005 before declining during the Great Recession.
- Residential investment accounts for approximately 3-4% of U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of new residential construction put in place in the United States, including single-family homes, multifamily structures, and improvements.
Q: Why is this trend relevant for users or analysts?
A: The value of new residential construction is a key indicator of housing and economic activity, providing insights into the strength of the housing market and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and homeowners by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the health of the housing sector and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a typical delay of several weeks following the end of the reporting period.
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MSHVAC
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MSCONSTQGSP), retrieved from FRED.