Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Ohio
OHPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,753.40
Year-over-Year Change
34.05%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Ohio. It provides insight into the economic performance and output of this key manufacturing sector 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 Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Ohio series tracks the total economic output of businesses in this industry, which includes the production of a wide range of plastic and rubber goods. This metric is used by economists and policymakers to assess the health and competitiveness of Ohio's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP accounts.
Historical Context
Trends in this industry's GDP are relevant for understanding Ohio's broader economic conditions and competitiveness.
Key Facts
- Ohio is a major center of plastics and rubber manufacturing.
- This industry accounts for over 10% of Ohio's total manufacturing GDP.
- Trends in this metric can signal shifts in the state's industrial base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of this key manufacturing sector provides insight into the economic performance and competitiveness of Ohio's industrial base, which is crucial for understanding the state's overall economic conditions.
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 regional GDP accounts.
Q: How is this trend used in economic policy?
A: Trends in this metric are monitored by economists, policymakers, and industry analysts to assess the health and competitiveness of Ohio's manufacturing sector, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Ohio (OHPLASRUBMANNGSP), retrieved from FRED.