Work Started: Construction: Dwellings and Residential Buildings: Total for Czech Republic
WSCNDW01CZQ489N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,198.00
Year-over-Year Change
8.08%
Date Range
4/1/1995 - 7/1/2023
Summary
This economic trend measures the volume of work started on new residential construction projects in the Czech Republic, providing insight into the country's housing and real estate market 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
The 'Work Started: Construction: Dwellings and Residential Buildings: Total for Czech Republic' series tracks the total area or volume of new residential construction projects that have begun in the Czech Republic. It is an important leading indicator for the domestic housing market and broader economic conditions.
Methodology
The data is collected through surveys of construction companies and real estate developers in the Czech Republic.
Historical Context
This trend is closely monitored by policymakers, economists, and real estate analysts to assess the health of the Czech housing market and broader economic outlook.
Key Facts
- Residential construction accounts for over 50% of total construction activity in the Czech Republic.
- New home starts declined by 15% in 2020 due to the economic impact of the COVID-19 pandemic.
- The Czech Republic has a housing affordability crisis, with home prices rising faster than incomes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total volume or area of new residential construction projects that have started in the Czech Republic, providing insight into housing market activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important leading indicator for the Czech housing market and broader economic conditions, closely watched by policymakers, economists, and real estate analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction companies and real estate developers in the Czech Republic.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to assess the health of the Czech housing market and make informed decisions about monetary, fiscal, and housing policies.
Q: Are there update delays or limitations?
A: There may be a 1-2 month delay in the release of this data, and the series does not capture informal or unreported construction activity.
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Citation
U.S. Federal Reserve, Work Started: Construction: Dwellings and Residential Buildings: Total for Czech Republic (WSCNDW01CZQ489N), retrieved from FRED.