Work Started: Construction: Dwellings and Residential Buildings: Total for Norway
WSCNDW01NOA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.87
Year-over-Year Change
-110.00%
Date Range
1/1/1960 - 1/1/2022
Summary
This economic trend measures the total number of new construction projects started for dwellings and residential buildings in Norway. It serves as an important indicator of housing market activity and future economic growth.
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 Norway series tracks the number of new construction projects initiated for private homes, apartments, and other residential structures. This metric is closely watched by economists and policymakers to gauge the health of the Norwegian housing market and broader economic conditions.
Methodology
The data is collected through surveys of construction firms and government building permit records.
Historical Context
Trends in residential construction starts are a key input for economic forecasting and policy decisions related to the housing sector.
Key Facts
- Norway is the 5th largest economy in Europe.
- Residential construction accounts for over 5% of Norway's GDP.
- Housing starts data is released monthly by the Norwegian statistical agency.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of new construction projects started for private homes, apartments, and other residential buildings in Norway.
Q: Why is this trend relevant for users or analysts?
A: Trends in residential construction starts are a key indicator of housing market activity and future economic growth, making this data highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and government building permit records.
Q: How is this trend used in economic policy?
A: Housing market indicators like construction starts are used by central banks, government agencies, and private analysts to inform economic forecasting and policy decisions related to the housing sector.
Q: Are there update delays or limitations?
A: The data is released monthly by the Norwegian statistical agency, with typical update lags of 4-6 weeks.
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Citation
U.S. Federal Reserve, Work Started: Construction: Dwellings and Residential Buildings: Total for Norway (WSCNDW01NOA657S), retrieved from FRED.