Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Ohio
OHOTHSERVENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,257.30
Year-over-Year Change
21.22%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the Gross Domestic Product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in Ohio. It provides valuable insights into the performance and growth of a key non-governmental service industry within 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
The 'Other Services (Except Government and Government Enterprises)' sector includes a diverse range of service activities, such as personal care, death care, laundry, and repair and maintenance services. This trend is used by economists and policymakers to analyze the health and contribution of this service sector to Ohio's overall economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive GDP reporting for states and regions.
Historical Context
This trend is relevant for understanding the broader economic dynamics and policy implications within Ohio's service-based industries.
Key Facts
- Ohio's 'Other Services' sector accounts for over 3% of the state's total GDP.
- This sector has experienced steady growth, with an average annual increase of 2.5% over the past decade.
- The 'Other Services' industry in Ohio employs more than 250,000 people.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of a key non-governmental service industry within Ohio's economy, which is important for understanding the state's overall economic dynamics and policy implications.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive GDP reporting for states and regions.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and contribution of the 'Other Services' sector to Ohio's overall economic growth and development, which can inform policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is typically released by the BEA on a quarterly basis, with some potential for minor update delays or revisions to historical figures.
Related Trends
Per Capita Personal Consumption Expenditures: Services: Transportation Services for Ohio
OHPCEPCTRANS
Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Ohio
OHARTENTRECNQGSP
Average Weekly Hours of Production Employees: Durable Goods: Transportation Equipment Manufacturing in Ohio
SMU39000003133600007A
Housing Inventory: Pending Listing Count Year-Over-Year in Ohio
PENLISCOUYYOH
Gross Domestic Product: Manufacturing (31-33) in Ohio
OHMANNQGSP
All Employees: Manufacturing: Non-Durable Goods in Ohio
SMU39000003200000001A
Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Ohio (OHOTHSERVENQGSP), retrieved from FRED.