Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Ohio
OHMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
855.00
Year-over-Year Change
-43.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Ohio trend measures the inflation-adjusted economic output of the mining industry, excluding oil and gas, within the state of Ohio. This statistic is important for understanding regional economic conditions and industry-specific productivity.
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 economic indicator represents the real dollar value of goods and services produced by the mining industry, excluding oil and gas extraction, in the state of Ohio. It is a key measure of the mining sector's contribution to the state's overall economic activity and growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting procedures.
Historical Context
This metric is closely monitored by policymakers, industry analysts, and economic development organizations to assess the strength and trends within Ohio's non-oil and gas mining industries.
Key Facts
- Ohio is a major mining state, producing a variety of minerals including coal, salt, and limestone.
- The mining industry, excluding oil and gas, accounts for over 1% of Ohio's total economic output.
- Mining productivity in Ohio has increased by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the mining industry, excluding oil and gas extraction, within the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and productivity of Ohio's non-oil and gas mining sectors, which are crucial to the state's overall economic health and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting procedures.
Q: How is this trend used in economic policy?
A: Policymakers, industry groups, and economic development organizations closely monitor this metric to assess the strength and trends within Ohio's mining industries, informing economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month lag, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Ohio (OHMINEXOILGASRGSP), retrieved from FRED.