Real Gross Domestic Product: Federal Civilian in Ohio
OHGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,463.50
Year-over-Year Change
16.27%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the federal civilian sector in Ohio. It is an important indicator of the economic activity and productivity of the federal government in 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 Real Gross Domestic Product: Federal Civilian in Ohio metric tracks the inflation-adjusted economic output generated by the federal civilian workforce in the state. It is used to assess the contribution of the federal government to Ohio's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures and employment data.
Historical Context
This trend provides insights into the role of the federal government as an employer and economic driver in Ohio, which is relevant for policymakers and analysts studying state-level economic conditions.
Key Facts
- Ohio's federal civilian GDP was $20.4 billion in 2020.
- The federal civilian sector accounts for 2.3% of Ohio's total GDP.
- Real federal civilian GDP in Ohio has grown by 12% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by the federal civilian workforce in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic impact of the federal government as an employer and driver of activity in Ohio, which is useful for policymakers and analysts studying state-level economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures and employment data.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to federal spending, employment, and the role of the government in state-level economic development.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Ohio (OHGOVFEDCIVRGSP), retrieved from FRED.