Chain-Type Quantity Index for Real GDP: Information (51) in Ohio
OHINFOQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
144.00
Year-over-Year Change
20.99%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in Ohio measures the real output of the information sector in the state of Ohio. This metric is important for economists and policymakers to assess the health and growth of Ohio's technology and knowledge-based 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 Chain-Type Quantity Index for Real GDP: Information (51) in Ohio tracks the volume of real economic output from Ohio's information industry, which includes sectors like software publishing, data processing, and telecommunications. This provides insight into the productivity and competitiveness of Ohio's information-focused businesses.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and business leaders use this index to inform decisions related to economic development, infrastructure, and workforce planning in Ohio's information economy.
Key Facts
- Ohio's information sector accounts for over 5% of the state's total economic output.
- The Chain-Type Quantity Index has shown steady growth in Ohio's information industry over the past decade.
- Technological innovation and a skilled workforce are key drivers of the information sector's performance in Ohio.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Ohio measures the real, inflation-adjusted output of Ohio's information industry, which includes sectors like software, data processing, and telecommunications.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and competitiveness of Ohio's knowledge-based economy, which is crucial for understanding the state's overall economic performance and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling techniques.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders in Ohio use this index to inform decisions related to economic development, infrastructure investment, and workforce planning in the state's information and technology sectors.
Q: Are there update delays or limitations?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Ohio is updated quarterly by the U.S. Federal Reserve, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Information (51) in Ohio (OHINFOQQGSP), retrieved from FRED.