Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Ohio
OHFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,511.80
Year-over-Year Change
52.30%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Ohio' measures the economic output of this key manufacturing sector in the state. It provides valuable insights into a critical industry's contribution to Ohio's overall economic performance.
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 series represents the gross domestic product (GDP) generated by food, beverage, and tobacco product manufacturers in Ohio. It is a key indicator of the productivity and growth of this vital manufacturing segment, which is an important component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Historical Context
Economists and policymakers closely monitor this trend to assess the health and competitiveness of Ohio's food and beverage manufacturing industries.
Key Facts
- Ohio is a major U.S. hub for food and beverage manufacturing.
- This sector accounts for over 10% of the state's total GDP.
- The industry employs more than 70,000 Ohioans.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the food, beverage, and tobacco product manufacturing industries in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and growth of a critical manufacturing segment that is a key component of Ohio'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 (BEA) as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this trend to assess the health and competitiveness of Ohio's food and beverage manufacturing industries, which are important for the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly by the BEA, with some lag from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Ohio (OHFOODBEVTOBMANNGSP), retrieved from FRED.