Production, Sales, Work Started and Orders: Construction Work Started on Dwellings: Economic Activity: Construction of Buildings for Norway
NORWSCNDW01IXOBSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.86
Year-over-Year Change
12.41%
Date Range
1/1/1955 - 1/1/2024
Summary
This economic trend measures construction work started on dwellings in Norway, providing insights into the activity and growth of the country's construction industry.
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 'Production, Sales, Work Started and Orders: Construction Work Started on Dwellings: Economic Activity: Construction of Buildings for Norway' metric tracks the volume of new construction projects initiated for residential buildings. It serves as an important indicator of investment, economic confidence, and the overall health of the Norwegian construction sector.
Methodology
The data is collected and calculated by national statistical agencies based on surveys and administrative records.
Historical Context
Policymakers and market analysts use this metric to assess the state of the Norwegian economy and make informed decisions.
Key Facts
- Construction work started on dwellings in Norway has increased by 20% over the past 5 years.
- The construction industry accounts for over 6% of Norway's GDP.
- Residential construction is a key driver of economic growth in Norway.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of new construction projects initiated for residential buildings in Norway, providing insights into the activity and growth of the country's construction industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of investment, economic confidence, and the overall health of the Norwegian construction sector, which is an important driver of the country's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by national statistical agencies based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to assess the state of the Norwegian economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and may have some limitations in coverage or timeliness, as is common with economic indicators.
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Citation
U.S. Federal Reserve, Production, Sales, Work Started and Orders: Construction Work Started on Dwellings: Economic Activity: Construction of Buildings for Norway (NORWSCNDW01IXOBSAM), retrieved from FRED.