Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Ohio
OHAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,480.50
Year-over-Year Change
37.61%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the amusement, gambling, and recreation industries in Ohio. It provides insight into the economic performance and contribution of this 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 Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Ohio series tracks the total economic output of this industry group in the state. It is a key indicator for understanding the size and growth of Ohio's leisure and hospitality sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and models.
Historical Context
This trend is useful for policymakers, investors, and businesses to assess the strength and trajectory of Ohio's recreational economy.
Key Facts
- Ohio's amusement, gambling, and recreation GDP was $7.8 billion in 2021.
- This sector accounts for 1.6% of Ohio's total economic output.
- The industry saw a 24% decline in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the amusement, gambling, and recreation industries in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the size and performance of Ohio's leisure and hospitality sector, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and models.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and businesses can use this trend to assess the strength and trajectory of Ohio's recreational economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential delays due to the complexities of economic data collection and analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Ohio (OHAMUSENGSP), retrieved from FRED.