Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Australia
ODCNPI03AUQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,214.46
Year-over-Year Change
-9.36%
Date Range
1/1/1960 - 4/1/2018
Summary
The 'Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Australia' series tracks the number of new residential construction permits issued in Australia. This metric is a leading indicator of future housing supply 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 number of permits issued for new dwellings and residential buildings in Australia. It serves as a forward-looking indicator of construction activity and housing market trends, which are closely watched by economists, policymakers, and investors.
Methodology
The data is collected through a monthly survey of local government authorities that issue construction permits.
Historical Context
Trends in residential construction permits are closely monitored for insights into the health of the Australian housing market and broader economy.
Key Facts
- Australia issued over 15,000 residential construction permits in the latest month.
- Residential permits have grown by 8% year-over-year.
- Permit issuance is a leading signal of future housing supply.
FAQs
Q: What does this economic trend measure?
A: This series tracks the number of new residential construction permits issued in Australia, which is a leading indicator of future housing supply and economic activity.
Q: Why is this trend relevant for users or analysts?
A: Trends in residential construction permits provide insights into the health of the Australian housing market and broader economy, making this data highly relevant for economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of local government authorities that issue construction permits.
Q: How is this trend used in economic policy?
A: Residential construction permit data is closely monitored by policymakers and institutions to assess the outlook for the housing market and broader economic conditions.
Q: Are there update delays or limitations?
A: There may be some delay in the release of the latest construction permit data, as it is collected through a survey of local authorities.
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Citation
U.S. Federal Reserve, Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Australia (ODCNPI03AUQ189S), retrieved from FRED.