Production, Sales, Work Started and Orders: Construction Work Started on Dwellings: Economic Activity: Construction of Buildings for Canada
WSCNDW01CAA661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.82
Year-over-Year Change
24.96%
Date Range
1/1/1956 - 1/1/2023
Summary
This economic trend measures the volume of construction work started on dwellings in Canada, which is a key indicator of economic activity in the construction sector.
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 Construction Work Started on Dwellings metric tracks the volume of new residential construction projects initiated in Canada. It provides insight into the health and momentum of the Canadian housing market and broader construction industry.
Methodology
The data is collected through surveys of construction firms and contractors by Statistics Canada.
Historical Context
This indicator is closely monitored by policymakers, economists, and investors to assess the state of the Canadian economy.
Key Facts
- Dwelling construction is a major component of GDP in Canada.
- New housing projects signal future economic growth and job creation.
- Construction activity is sensitive to interest rates and consumer confidence.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of new construction work started on dwellings in Canada, providing insight into housing market activity and broader economic conditions.
Q: Why is this trend relevant for users or analysts?
A: Construction activity is a critical leading indicator for the Canadian economy, as new housing projects signal future economic growth, job creation, and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and contractors by Statistics Canada.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor this indicator to assess the state of the Canadian economy and inform decisions around monetary policy, housing regulations, and investment strategies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a short lag, providing timely information on the construction sector.
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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 Canada (WSCNDW01CAA661S), retrieved from FRED.