Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Ohio
OHOTRANEQMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,498.40
Year-over-Year Change
-2.50%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product of the other transportation equipment manufacturing industry in Ohio. It provides insights into the economic activity and productivity of this important manufacturing sector.
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 Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Ohio measure tracks the inflation-adjusted economic output of businesses engaged in manufacturing aircraft, spacecraft, railroad rolling stock, and other transportation equipment in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of businesses and other economic indicators.
Historical Context
This metric is used by economists, policymakers, and industry analysts to assess the health and competitiveness of Ohio's transportation equipment manufacturing sector.
Key Facts
- Ohio is a major hub for transportation equipment manufacturing.
- The sector employs over 100,000 workers in the state.
- This industry accounts for nearly 10% of Ohio's total economic output.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product of businesses in Ohio engaged in manufacturing aircraft, spacecraft, railroad equipment, and other transportation-related products.
Q: Why is this trend relevant for users or analysts?
A: The performance of Ohio's transportation equipment manufacturing sector is an important indicator of the state's economic health and competitiveness. This data helps policymakers, economists, and industry analysts assess the industry's productivity and growth.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects data from surveys of businesses and other economic sources to calculate this real GDP measure for the transportation equipment manufacturing industry in Ohio.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to evaluate the strength and competitiveness of Ohio's manufacturing base, which is a key driver of the state's economy. It informs decisions around workforce development, infrastructure investment, and industrial policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months. There may also be revisions to previous period estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Ohio (OHOTRANEQMANRGSP), retrieved from FRED.