Gross Domestic Product: Management of Companies and Enterprises (55) in Ohio
OHMNGCOENTPRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,314.70
Year-over-Year Change
20.61%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) for the Management of Companies and Enterprises (NAICS 55) sector in Ohio measures the total economic output of this industry in the state. It is a key indicator of the health and growth of this specific business segment.
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 GDP for the Management of Companies and Enterprises sector in Ohio represents the total value added by establishments that hold equity interests in other companies, acting as holding companies, or that administer, oversee, and manage other establishments of the company or enterprise. This metric is used to analyze the economic performance and productivity of this important industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
This economic trend is closely monitored by policymakers, industry analysts, and businesses to understand the broader economic climate and competitiveness in Ohio.
Key Facts
- Ohio's GDP for the Management of Companies sector was $21.3 billion in 2021.
- This industry accounted for 2.6% of Ohio's total GDP in 2021.
- The sector has seen 3.2% average annual growth over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the Management of Companies and Enterprises (NAICS 55) sector in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and productivity of an important industry segment within Ohio, which is useful for policymakers, businesses, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and analysts to understand the broader economic climate and competitiveness within Ohio's business environment.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be some delays in the availability of the most recent quarterly or annual estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Management of Companies and Enterprises (55) in Ohio (OHMNGCOENTPRNQGSP), retrieved from FRED.