Real Gross Domestic Product: Retail Trade (44-45) in Ohio
Annual, Not Seasonally Adjusted
OHRETAILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47,716.30
Year-over-Year Change
46.09%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures annual total retail and food services sales in Ohio, providing insights into consumer spending and economic activity in 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
This annual, non-seasonally adjusted retail sales metric tracks the total value of goods and services sold by Ohio retailers. It serves as an important indicator of consumer demand, business investment, and overall economic performance in the state.
Methodology
The data is collected through monthly surveys of retail establishments by the U.S. Census Bureau.
Historical Context
Retail sales figures are closely monitored by policymakers, analysts, and businesses to assess consumer confidence and the health of the regional economy.
Key Facts
- Ohio retail sales totaled $301 billion in 2021.
- Retail spending increased by 8.3% in Ohio from 2020 to 2021.
- Food and beverage stores accounted for 22% of Ohio's retail sales in 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the total value of retail and food services sales in the state of Ohio over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer spending patterns and the overall health of Ohio's economy, which is vital information for policymakers, businesses, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of retail establishments conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Retail sales figures are closely monitored by state and local governments, as well as the Federal Reserve, to assess consumer confidence, guide policy decisions, and evaluate the effectiveness of economic initiatives.
Q: Are there update delays or limitations?
A: The annual retail sales data for Ohio is published with a several-month lag, and does not provide a seasonally adjusted series, which can limit its use for some analytical purposes.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (OHRETAILRGSP), retrieved from FRED.