Real Gross Domestic Product: Rail Transportation (482) in Ohio
OHRAILTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,335.40
Year-over-Year Change
-5.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rail transportation industry in Ohio. It provides valuable insights into the performance and economic contribution of this critical transportation 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 Real Gross Domestic Product: Rail Transportation (482) in Ohio series tracks the inflation-adjusted economic output of the rail transportation industry in the state. This metric is used by economists and policymakers to analyze the growth and productivity of this vital component of Ohio's transportation infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in Ohio's rail transportation GDP are relevant for infrastructure investment decisions, economic development planning, and evaluating the industry's role in the state's overall economic performance.
Key Facts
- Ohio's rail transportation GDP reached $3.2 billion in 2021.
- Rail transportation accounts for 1.2% of Ohio's total economic output.
- The industry has seen a 2.5% average annual growth rate over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the rail transportation industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Tracking Ohio's rail transportation GDP provides valuable insights into the performance and economic contribution of this critical industry, which is relevant for infrastructure investment, economic development planning, and evaluating the sector's role in the state's overall economic output.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Trends in Ohio's rail transportation GDP are used by policymakers, economists, and industry analysts to inform infrastructure investment decisions, economic development strategies, and assessments of the industry's role in the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay by the U.S. Bureau of Economic Analysis. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rail Transportation (482) in Ohio (OHRAILTRANRGSP), retrieved from FRED.