Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Ohio
OHADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,957.70
Year-over-Year Change
-0.51%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in Ohio. It provides insights into the economic performance of this key service sector within the state.
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 Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Ohio tracks the inflation-adjusted economic output of this industry group, which includes activities such as office administration, facilities support, waste collection, and environmental remediation. This data point is a valuable indicator of the health and productivity of this service-oriented segment of Ohio's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Policymakers and analysts use this trend to assess the economic conditions and growth dynamics within Ohio's administrative and waste management services sector.
Key Facts
- Ohio's administrative and waste management services sector accounts for over 3% of the state's total GDP.
- This industry group employs more than 250,000 workers in Ohio.
- Real GDP in this sector has grown by 15% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This data point provides valuable insights into the economic performance and productivity of a key service-oriented industry within Ohio, which is important for understanding the state's overall economic conditions and growth dynamics.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic conditions and growth dynamics within Ohio's administrative and waste management services sector, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and revisions of the U.S. Bureau of Economic Analysis' regional GDP estimates, which may result in occasional update delays or minor data adjustments.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Ohio (OHADMINWASTRQGSP), retrieved from FRED.