Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Ohio
OHOTHTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,181.90
Year-over-Year Change
112.27%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) from the other transportation and support activities sector in Ohio. It provides insights into the economic performance of this crucial industry within 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 Other Transportation and Support Activities category includes a range of transportation-related services such as air, rail, water, and pipeline transportation, as well as support activities like logistics and warehousing. This data offers a granular view of economic activity in this important component of Ohio's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
This metric is valuable for policymakers, analysts, and businesses to gauge the health and trends within Ohio's transportation and logistics sectors.
Key Facts
- Ohio is a major transportation hub in the Midwest.
- This sector accounts for over 5% of Ohio's total GDP.
- GDP in this sector has grown by 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the other transportation and support activities sector in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and economic contribution of Ohio's transportation, logistics, and related support industries, which are critical components of the state's economy.
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 comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses can use this metric to gauge the health and trends within Ohio's transportation and logistics sectors, which are important for infrastructure planning, investment decisions, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reporting period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Ohio (OHOTHTRANNGSP), retrieved from FRED.