Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Ohio
OHAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
363.70
Year-over-Year Change
151.87%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in Ohio. It provides insights into the performance and productivity of this important manufacturing sector within the state's economy.
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: Apparel, Leather, and Allied Product Manufacturing (315-316) in Ohio series represents the inflation-adjusted total economic output of this specific manufacturing industry in the state. It is a key metric used by economists and policymakers to analyze the health and competitiveness of Ohio's apparel, leather, and related product manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is relevant for understanding Ohio's manufacturing landscape and informing economic development strategies and policies.
Key Facts
- Ohio is a major center for apparel, leather, and allied product manufacturing.
- This industry employs over 20,000 workers in the state.
- Real GDP in this sector has grown by 5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of a key manufacturing sector within Ohio's economy, informing economic development strategies and policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding Ohio's manufacturing landscape and informing economic development strategies and policies at the state and local levels.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Ohio (OHAPPLEATHMANRGSP), retrieved from FRED.