Production: Construction: Total for Australia
PRCNTO01AUQ189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,978,000,000.00
Year-over-Year Change
11.95%
Date Range
7/1/1974 - 7/1/2023
Summary
The 'Production: Construction: Total for Australia' series measures the total output of the construction industry in Australia. It is a key indicator of economic activity and an important measure for policymakers and analysts.
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 volume of construction activity in Australia, including residential, commercial, and civil engineering projects. It is a widely tracked metric that provides insight into the health and growth of the Australian economy.
Methodology
The data is collected by the Australian Bureau of Statistics through surveys of construction businesses.
Historical Context
Construction activity is closely monitored by the Reserve Bank of Australia and other policymakers to assess economic conditions and inform monetary and fiscal policy decisions.
Key Facts
- Australia is the 14th largest construction market globally.
- Construction accounts for around 7% of Australia's GDP.
- The construction industry employs over 1 million Australians.
FAQs
Q: What does this economic trend measure?
A: This series measures the total volume of construction activity in Australia, including residential, commercial, and civil engineering projects.
Q: Why is this trend relevant for users or analysts?
A: Construction activity is a key indicator of economic health and growth, providing important insights for policymakers, investors, and other stakeholders.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through surveys of construction businesses.
Q: How is this trend used in economic policy?
A: Construction activity is closely monitored by the Reserve Bank of Australia and other policymakers to assess economic conditions and inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Production: Construction: Total for Australia (PRCNTO01AUQ189N), retrieved from FRED.