Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Ohio
OHDATAWWWNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,013.20
Year-over-Year Change
105.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the data processing, hosting, and other information services industry in Ohio. It provides insights into the performance and growth of this important technology-driven 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 GDP for data processing, hosting, and other information services in Ohio is a key indicator of economic activity and productivity in the state's technology and information services industries. It is used by policymakers, economists, and business analysts to evaluate the competitiveness and growth potential of this sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the state's technology and information services industries and their contribution to overall economic performance.
Key Facts
- Ohio's data processing and information services GDP was $14.9 billion in 2021.
- This sector grew by 7.2% annually from 2016 to 2021.
- It accounts for 2.6% of Ohio's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the data processing, hosting, and other information services industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and growth of Ohio's technology and information services sector, which is an important driver of economic activity in the state.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and business analysts use this trend to evaluate the competitiveness and growth potential of Ohio's technology and information services industries.
Q: Are there update delays or limitations?
A: The data is subject to the standard publication schedule and revision process of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Ohio (OHDATAWWWNGSP), retrieved from FRED.