Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Ohio
OHMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.47
Year-over-Year Change
-6.50%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Ohio measures the volume of output from the machinery manufacturing sector in Ohio, adjusted for inflation. This metric is important for economists and policymakers to understand trends in a key industrial segment of 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
This index tracks the real (inflation-adjusted) production of machinery manufacturing goods in Ohio, a critical component of the state's industrial base. It is used to analyze the health and competitiveness of this industry within the broader Ohio economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price information from industry surveys.
Historical Context
Trends in this index help inform economic and industrial policy decisions at the state level.
Key Facts
- The index is referenced to 2012 = 100.
- Ohio is a leading U.S. state for machinery manufacturing.
- The index provides a reliable indicator of production volume trends.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted volume of output from the machinery manufacturing sector in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this index helps economists and policymakers understand the health and competitiveness of a critical segment of Ohio'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 production and price information from industry surveys.
Q: How is this trend used in economic policy?
A: Trends in this index inform economic and industrial policy decisions at the state level in Ohio.
Q: Are there update delays or limitations?
A: The data is subject to the typical release schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Ohio (OHMACHMANQGSP), retrieved from FRED.