ConsTrack

CONStruction Site Detection and TRACKing Service

Aims

ConsTrack enables a ground-breaking new satellite-based economic information service for stocktaking the status of the construction sector. The aim is to provide an IT system for timely and reliable information about construction and restoration activities across Europe and thus, to produce indicators for accurate business cycle analysis having an immediate impact on stock and credit markets.

Brief Description

The construction sector occupies a prominent place in economic statistics, with timely information on the activities providing an early signal of potential changes of the business cycle, having an immediate impact on stock and credit markets as well as institutional and political behaviour. A continuous observation capacity of building activities per country is therefore essential in determining structural economic trends, impacting several sectors.

To date, conventional indicators for the construction sector are built on statistical surveys. These suffer from human interference, insufficient coverage, delays in their availability and biases due to different approaches. The real challenge is to gather reliable and consistent data on construction activities, in near real-time, and to transform them into meaningful, objective statistical information, so as to significantly increase the relevance, accuracy and timeliness of these economic observations.

Unique advantages of ConsTrack

• IT information system for timely monitoring of construction activities including all types of new constructions (buildings – residential/private, industry and infrastructure)
• Complete overview of construction activities on national and European level
• Platform for data exchange between local banks, national banks and the European Central Bank for a standardized management of construction, renovation and real estate activities
• Significant enhancement of the control of and service quality to customers as well as provide a platform for standardized market information feedback

ConsTrack Monitor

• Satellite- and GNSS-based, internal collection of reliable, independent and consistent data on construction activities including information on location, area and investor type (private, industry, infrastructure)
• Central data base for data storage
• IT system to derive objective, statistical information
• European-wide coverage (EU-19) on a monthly basis

ConsTrack Report

• Mobile application to document new construction and renovation activities in detail including start/duration and financial volume
• IT system to collect, edit and manage construction and renovation activities