Real Gross Domestic Product: Support Activities for Mining (213) in Ohio
OHSAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
805.00
Year-over-Year Change
76.11%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of support activities for mining in the state of Ohio. It provides insights into the performance and contribution of this industry sector to the state's overall economic activity.
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: Support Activities for Mining (213) in Ohio metric tracks the inflation-adjusted value of goods and services produced by companies engaged in support activities for mining, such as well drilling, exploration, and related services. This data is a key indicator of the health and growth of Ohio's mining support industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic development agencies to understand the dynamics of Ohio's mining support sector and its impact on the state's overall economic performance.
Key Facts
- Ohio is a major energy-producing state, with significant mining and extraction industries.
- The mining support sector accounts for a notable portion of Ohio's economic output.
- This metric helps track the relative strength and competitiveness of Ohio's mining support services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of companies engaged in support activities for mining in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and importance of Ohio's mining support industry, which is a significant contributor to the state's overall economic activity.
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 frameworks.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economic development agencies closely monitor this trend to understand the dynamics of Ohio's mining support sector and its impact on the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published with a regular quarterly frequency, but there may be some lag in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in Ohio (OHSAMINRGSP), retrieved from FRED.