Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Ohio
OHDURMANQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.54
Year-over-Year Change
-1.59%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Ohio measures the inflation-adjusted output of the durable goods manufacturing sector in the state of Ohio. This trend is a key indicator of economic activity and productivity in an important industrial segment.
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
This index tracks the real, volume-based output of Ohio's durable goods manufacturing industries, which include sectors like machinery, transportation equipment, and furniture. It provides insights into the productivity and competitiveness of the state's manufacturing base, which is a significant driver of overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This manufacturing index is closely monitored by policymakers, analysts, and businesses to assess the health and trajectory of Ohio's industrial economy.
Key Facts
- Ohio is the 3rd largest manufacturing state in the U.S.
- Durable goods make up over 50% of Ohio's total manufacturing output.
- The durable goods index has rebounded strongly from pandemic lows.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Ohio measures the inflation-adjusted, volume-based output of Ohio's durable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and competitiveness of a key driver of Ohio's economy, allowing users to assess the health and trajectory of the state's industrial base.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This manufacturing index is closely monitored by policymakers, analysts, and businesses to assess the overall performance of Ohio's industrial economy and inform economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule with typical update delays, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Ohio (OHDURMANQQGSP), retrieved from FRED.