Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Ohio
OHNMMPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,362.90
Year-over-Year Change
-6.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Ohio series measures the inflation-adjusted output of this manufacturing sector in the state. It is an important indicator of economic activity and industrial production.
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 series represents the real, price-adjusted value added by the nonmetallic mineral product manufacturing industry in Ohio's gross state product. It is used by economists and policymakers to analyze trends in this key component of the state's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Tracking this metric can provide insights into the health of Ohio's construction, mining, and related industries that rely on nonmetallic mineral products.
Key Facts
- Ohio is a leading producer of nonmetallic mineral products.
- This industry accounts for over 3% of Ohio's total manufacturing GDP.
- Trends in this metric can signal changes in construction, mining, and related sectors.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product contribution of the nonmetallic mineral product manufacturing industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Tracking this metric provides insights into the health and performance of a key component of Ohio's manufacturing and industrial base, which has important implications for the broader state economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Economists and policymakers can use this metric to assess the strength of Ohio's construction, mining, and related industries that rely on nonmetallic mineral products.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve with a typical 1-2 month lag from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Ohio (OHNMMPMANRGSP), retrieved from FRED.