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ECONOMIC INDICATORS

An economic indicator is a statistic about the economy that allows analysis of economic performance and predictions of future performance.

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BUILDING PERMITS

These are construction statistics by permit-issuing place and by county on new privately-owned residential housing units authorized by building permits. Data items include number of buildings, units, and construction cost from new privately-owned residential building permits issued. Most of the permit-issuing jurisdictions are municipalities; the remainder are county offices, townships or unincorporated towns. The statistics are based on reports submitted by local building permit officials in response to a mail survey.

Building permits data are collected from individual permit offices, most of which are municipalities. The data are aggregated each year to the county level. The statistics are based on reports submitted by local building permit officials in response to a mail survey. When a report is not received, missing data are either (1) obtained from the Survey of Use of Permits (SUP) which is used to collect information on housing starts, or (2) imputed.


TENNESSEE MSA BUILDING PERMITS

Total New Privately Owned Housing Units Authorized by TN MSA
    Dec 2015 Jan 2016 Feb 2016 Mar 2016 Apr 2016 May 2016 June 2016 July 2016 Aug 2016 Sep 2016 Oct 2016 Nov 2016
Johnson City
44
11
4
11
0
5
34
14
28
6
13
8
  % Chg from Year Ago
-24.1%
-82.3%
-63.6%
-42.1%
-100.0%
-81.5%
209.1%
-61.1%
-40.4%
-79.3%
-76.4%
-11.1%
Morristown
  % Chg from Year Ago
Knoxville
188
176
200
215
300
346
245
526
261
235
377
223
  % Chg from Year Ago
-48.2%
20.6%
53.8%
3.9%
36.4%
-28.7%
-21.0%
155.3%
29.9%
11.4%
12.2%
27.4%
Memphis
328
251
476
244
326
250
321
532
648
295
482
194
  % Chg from Year Ago
17.1%
0.8%
142.9%
-68.5%
38.1%
-57.4%
0.3%
38.9%
143.6%
25.5%
132.9%
14.8%
Clarksville
131
134
114
150
148
101
127
97
119
109
232
178
  % Chg from Year Ago
20.2%
41.1%
78.1%
76.5%
26.5%
-6.5%
29.6%
-45.5%
-15.0%
-16.8%
127.5%
91.4%
Nashville-Davidson--Murfreesboro-Franklin
1264
1697
2263
2392
1860
1556
1475
1302
1267
1372
1071
1181
  % Chg from Year Ago
31.9%
57.9%
130.0%
63.5%
30.5%
18.1%
26.4%
-2.1%
-30.1%
29.8%
-32.0%
-52.6%
Kingsport-Bristol-Bristol
0
0
1
0
1
2
1
0
1
1
2
1
  % Chg from Year Ago
-100.0%
-100.0%
100.0%
-100.0%
-50.0%
100.0%
0.0%
-100.0%
0.0%
-100.0%
0.0%
-50.0%
Jackson
7
6
9
11
13
23
8
13
19
26
17
15
  % Chg from Year Ago
-56.3%
-72.7%
80.0%
-15.4%
-23.5%
-30.3%
100.0%
160.0%
58.3%
44.4%
0.0%
36.4%
Cleveland
44
39
32
45
43
28
19
15
44
24
41
18
  % Chg from Year Ago
29.4%
95.0%
28.0%
55.2%
-61.6%
-31.7%
-52.5%
-28.6%
25.7%
-20.0%
-69.9%
-5.3%
Chattanooga
185
129
172
124
151
129
148
119
146
129
131
108
  % Chg from Year Ago
96.8%
9.3%
89.0%
0.8%
-16.6%
61.3%
1.4%
-42.5%
39.0%
13.2%
24.8%
-28.9%

Notes: 1) Data is not seasonally adjusted; 2) Morristown MSA Building Permits are not currently reported by the Census Bureau.

Source: U.S. Census Bureau


FAQ

QUESTION ANSWER
How are the building permit data summarized? Building permit statistics are summarized for the U.S., Census regions, Census divisions, metropolitan areas and counties. The survey collects the number of housing units and the valuation of construction for new single-family and multi-family structures. For additions, alterations, renovations and major replacements, the survey collects the number of total permits and total valuation for each month.
When and where are building permits data published? Preliminary estimates for the United States and the four Census regions are available mid-month, every month in the "New Residential Construction Press Release." View Release Dates for preliminary data. Revised estimates of the building permits data are available at the end of each month for the U.S., Census Regions, Census divisions, metropolitan areas, counties and individual permit offices. View Revision Release Dates for revised data. The State and Metropolitan Area data are available as text files. Data for Counties and Individual Permit Offices are available in HTML format, as well as ASCII, comma delimited files.
Are statistics available regarding commercial building permits issued by state and/or metropolitan area? There are no current statistics for commercial building permits. However, historical data regarding commercial building permits issued by state and/or metropolitan area are available for a fee. Annual data are offered for the years 1980-1994 and monthly data are available for the years 1988-1995. To order, contact the U.S. Census Bureau's Residential Construction office at (301) 763-5160.
What is the difference between building permits and housing starts data? Building permits data are based on those units authorized to be built. Housing starts data are based on the actual breaking of ground for footings or foundations or beginning a new superstructure on top of an existing foundation. Statistics for these two types of data are available at the New Residential Construction site.
Are apartments included in the estimates? Yes, certain apartments our included in the data. A housing unit, as defined for purposes of these data, is a house, an apartment, a group of rooms, or a single room intended for occupancy as separate living quarters. Each apartment unit in an apartment building is counted as one housing unit. Housing units, as distinguished from "HUD-code" manufactured (mobile) homes, include conventional "site-built" units, prefabricated, panelized, sectional, and modular units.
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CONSUMER PRICE INDEX (CPI)

The Consumer Price Index measures changes in the price level of consumer goods and services purchased by households. It is the most widely used measure of inflation. The Consumer Price Indexes (CPI) program of the Bureau of Labor Statistics produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services.


FAQ

QUESTION ANSWER
How is the CPI used? The CPI affects nearly all Americans because of the many ways it is used. For example, it is used as an economic indicator, as a deflator of other economic series, and as a means of adjusting dollar values.
Is the CPI a cost-of-living index? The CPI frequently is called a cost-of-living index, but it differs in important ways from a complete cost-of-living measure. BLS has for some time used a cost-of-living framework in making practical decisions about questions that arise in constructing the CPI. A cost-of-living index is a conceptual measurement goal, however, not a straightforward alternative to the CPI. A cost-of-living index would measure changes over time in the amount that consumers need to spend to reach a certain utility level or standard of living. Both the CPI and a cost-of-living index would reflect changes in the prices of goods and services (such as food and clothing) that are directly purchased in the marketplace; but a complete cost-of-living index would go beyond this to also take into account changes in other governmental or environmental factors that affect consumers’ well-being. It is very difficult to determine the proper treatment of public goods, such as safety and education, and other broad concerns, such as health, water quality, and crime that would constitute a complete cost-of-living framework.
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LEADING ECONOMIC INDEX

The Conference Board Leading Economic Index (LEI) for the U.S. is a composite economic index representing the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading, coincident, and lagging economic indexes are essentially composite averages of several individual leading, coincident, or lagging indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.

 

FAQ

QUESTION ANSWER
What are the components of the LEI? Average weekly hours, manufacturing Average weekly initial claims for unemployment insurance Manufacturers’ new orders, consumer goods and materials ISM Index of New Orders Manufacturers' new orders, nondefense capital goods excluding aircraft orders Building permits, new private housing units Stock prices, 500 common stocks Leading Credit Index™ Interest rate spread, 10-year Treasury bonds less federal funds Average consumer expectations for business conditions
What is the difference between a leading and a lagging indicator Leading indicators are used to predict changes in the economy before they occur, while lagging indicators measure changes in the economy after they've occurred.
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HELP-WANTED ONLINE

The Conference Board HWOL program of theprovides data on online advertised job demand by providing timely monthly measures of labor demand (advertised vacancies) at the national, regional, State and metropolitan area levels. These monthly measures are comparable in timing and geographic detail to the Bureau of Labor Statistics (BLS) monthly measures of labor supply (unemployment) and employment. The program provides measures of levels and rates for both Total Online Ads and New Online Ads. The online vacancy program provides extensive occupational detail with national estimates published at the major occupational group level and State and MSA estimates at higher-level aggregates. In addition to the HWOL press release time series, the HWOL program also produces detailed time series for the US, Regions, States, MSAs, counties and cities by 6-digit SOC occupational level.

 


MANUFACTURERS SHIPMENTS, INVENTORIES, & ORDERS

The Manufacturers’ Shipments, Inventories, and Orders (M3) survey provides broad-based, monthly statistical data on economic conditions in the domestic manufacturing sector. The survey measures current industrial activity and provides an indication of future business trends.

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