Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Canada
ODCNPI03CAQ657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.95
Year-over-Year Change
-949.60%
Date Range
4/1/1948 - 1/1/2025
Summary
This economic indicator tracks the number of construction permits issued for dwellings and residential buildings in Canada. It serves as a leading indicator of future construction activity and investment.
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 Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Canada measures the volume of approved building permits for new residential construction projects. This data is used by economists and policymakers to forecast housing market trends and assess the state of the construction industry.
Methodology
The data is collected monthly by Statistics Canada through a survey of municipal building permit offices.
Historical Context
Trends in residential construction permits are closely monitored by the Bank of Canada and other institutions to inform economic and monetary policy decisions.
Key Facts
- Construction permits are a leading indicator of future building activity.
- Residential construction accounts for a significant portion of overall construction investment.
- Permit data is used to forecast housing supply and anticipate changes in the real estate market.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of approved building permits for new residential construction projects in Canada, including dwellings and other residential buildings.
Q: Why is this trend relevant for users or analysts?
A: Trends in residential construction permits are closely monitored by economists and policymakers as a leading indicator of future housing market activity and overall economic investment.
Q: How is this data collected or calculated?
A: The data is collected monthly by Statistics Canada through a survey of municipal building permit offices across the country.
Q: How is this trend used in economic policy?
A: The Bank of Canada and other institutions use this data to inform economic and monetary policy decisions, as residential construction is a key driver of economic growth.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months. There may be some variability in reporting across different municipalities.
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Citation
U.S. Federal Reserve, Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Canada (ODCNPI03CAQ657S), retrieved from FRED.