Real Gross Domestic Product: Manufacturing (31-33) in Ohio
Annual, Not Seasonally Adjusted
OHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109,754.80
Year-over-Year Change
17.15%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted data series measures the nominal gross state product for Ohio. This key economic indicator helps policymakers and economists track the overall economic performance of 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 Annual, Not Seasonally Adjusted data series provides a comprehensive measure of the total economic output or gross state product (GSP) for the state of Ohio. GSP is a core macroeconomic statistic used to gauge the size and growth of a state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using information from surveys, tax records, and other sources.
Historical Context
This annual GSP data is used by government agencies, economic analysts, and businesses to monitor Ohio's economic trends and make informed policy decisions.
Key Facts
- Ohio's GSP reached $731 billion in 2021.
- Manufacturing is a key driver of Ohio's economy.
- Ohio's economy accounts for about 3.5% of U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted data series measures the total nominal gross state product (GSP) for the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: GSP is a core macroeconomic statistic used to gauge the size and growth of Ohio's economy, which is crucial information for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using information from surveys, tax records, and other sources.
Q: How is this trend used in economic policy?
A: This annual GSP data is used by government agencies, economic analysts, and businesses to monitor Ohio's economic trends and make informed policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent economic conditions in Ohio.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (OHMANRGSP), retrieved from FRED.