Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Ohio
OHTEXTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
359.50
Year-over-Year Change
3.01%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Ohio metric measures the economic output of the textile manufacturing industry in the state. This data point is important for understanding the health and trends of Ohio's manufacturing sector.
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 series represents the gross domestic product (GDP) generated by textile mills and textile product mills in the state of Ohio. It is a key indicator of the production and economic activity within this specific manufacturing subsector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
Policymakers and industry analysts use this metric to gauge the competitive position and outlook for Ohio's textile manufacturing industry.
Key Facts
- Ohio is a major center for textile production in the U.S.
- Textile manufacturing employs over 20,000 workers in Ohio.
- The industry contributes over $2 billion annually to Ohio's GDP.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) generated by textile mills and textile product mills located in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the health and competitive position of Ohio's textile manufacturing industry, which is a significant part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to gauge the outlook for Ohio's textile manufacturing sector and inform decisions around economic development, workforce, and trade policies.
Q: Are there update delays or limitations?
A: There may be lags of several months before the latest data is published, and the metric may not fully capture all economic activity in the industry.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Ohio (OHTEXTNGSP), retrieved from FRED.