Production: Construction: Total for Ireland
PRCNTO01IEA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.86
Year-over-Year Change
-215.25%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Production: Construction: Total for Ireland' trend measures the total output of the construction industry in Ireland. It is a key indicator of economic activity and investment in the Irish economy.
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 economic indicator tracks the overall production and output levels of the construction sector in Ireland. It is widely used by economists, policymakers, and analysts to assess the health and trajectory of the Irish economy, as construction activity is closely tied to broader economic conditions.
Methodology
The data is collected through surveys of construction firms and contractors operating in Ireland.
Historical Context
Monitoring this construction production trend helps inform policy decisions and investment strategies related to the Irish housing market, infrastructure development, and overall economic growth.
Key Facts
- Construction accounts for approximately 6% of Ireland's GDP.
- Ireland's construction sector experienced a major downturn during the 2008 financial crisis.
- Recovering construction activity is seen as a signal of broader economic recovery in Ireland.
FAQs
Q: What does this economic trend measure?
A: The 'Production: Construction: Total for Ireland' trend measures the overall output and production levels of the construction industry in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This construction production trend is an important indicator of economic conditions and investment activity in Ireland, as the construction sector is closely tied to broader economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and contractors operating in Ireland.
Q: How is this trend used in economic policy?
A: Monitoring this construction production trend helps inform policy decisions and investment strategies related to the Irish housing market, infrastructure development, and overall economic growth.
Q: Are there update delays or limitations?
A: There may be some time lag in the data reporting, as it is collected through survey methods. The trend may also be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Production: Construction: Total for Ireland (PRCNTO01IEA659S), retrieved from FRED.