Gross Domestic Product: Truck Transportation (484) in Ohio
OHTRUCKTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,613.00
Year-over-Year Change
97.99%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Truck Transportation (484) in Ohio trend measures the economic output of the truck transportation industry in the state of Ohio. This metric is important for understanding the performance and contribution of the logistics and supply chain sectors to the overall state economy.
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 Gross Domestic Product: Truck Transportation (484) in Ohio series represents the total inflation-adjusted value added by the truck transportation industry, which includes establishments primarily engaged in the for-hire transportation of cargo using motor vehicles, such as trucks and tractor-trailers. This data provides insight into the economic health and productivity of a critical component of Ohio's transportation infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP by industry accounts.
Historical Context
This trend is closely monitored by policymakers, economists, and industry stakeholders to assess the state of Ohio's logistics and supply chain sectors and inform economic development strategies.
Key Facts
- Ohio's truck transportation industry accounts for over $12 billion in GDP.
- Truck transportation makes up approximately 2.5% of Ohio's total economic output.
- The truck transportation sector in Ohio has grown by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Truck Transportation (484) in Ohio trend measures the total economic output or value added by the truck transportation industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of the logistics and supply chain sectors to Ohio's overall economy, which is crucial information for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP by industry accounts.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and industry stakeholders to assess the state of Ohio's logistics and supply chain sectors and inform economic development strategies.
Q: Are there update delays or limitations?
A: The Gross Domestic Product: Truck Transportation (484) in Ohio data is typically published on a quarterly basis, with a lag of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Truck Transportation (484) in Ohio (OHTRUCKTRANNGSP), retrieved from FRED.