Real Gross Domestic Product: All Industry Total in Ohio
OHRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
734,267.20
Year-over-Year Change
5.72%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product (Real GDP) All Industry Total in Ohio measures the total economic output of Ohio, adjusted for inflation. This trend is a key indicator of the state's overall economic health and performance.
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
Real GDP All Industry Total in Ohio represents the total value of all goods and services produced within the state, expressed in constant dollars to account for price changes. It is a comprehensive measure used by economists and policymakers to assess Ohio's economic growth and development over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and surveys.
Historical Context
This metric helps inform state-level economic and fiscal policies in Ohio.
Key Facts
- Ohio's real GDP reached $672 billion in 2021.
- The state's real GDP grew by 4.9% in 2021 after a 2.7% decline in 2020.
- Manufacturing is a key driver of Ohio's economy, accounting for over 17% of real GDP.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product (Real GDP) All Industry Total in Ohio measures the total economic output of the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is a comprehensive indicator of Ohio's overall economic health and performance, which is crucial for economists, policymakers, and businesses operating in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and surveys.
Q: How is this trend used in economic policy?
A: Ohio's real GDP helps inform state-level economic and fiscal policies, as it provides insights into the state's overall economic growth and development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: All Industry Total in Ohio (OHRQGSP), retrieved from FRED.